Account BalancesPrior Year-EndCurrent Year-End Rent Receivable$100,000 $125,000 Rent Revenue$500,000 $550,000 The cash received from rent revenue during the current year was: $125,000 $25,000 $500,000 $525,000

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hyderali230 hyderali230 · Answer 1 · 2020-04-12T06:36:29+02:00

Answer:

$25,000

Explanation:

Account Balances Prior Year-End Current Year-End

Rent Receivable $100,000 $125,000

Rent Revenue $500,000 $550,000

We Know that

Ending balance of Receivable = Beginning balance of Receivable + Rent revenue for the period - Cash received from the customers

$125,000 = $100,000 + ($550,000 - $500,000) - Cash received from the customers

$125,000 = $100,000 + $50,000 - Cash received from the customers

$125,000 = $150,000 - Cash received from the customers

Cash received from the customers = $150,000 - $125,000 = $25,000