CHAPTER 19

[2016 slips – 200 X $800 X (1.00 – .05)] 152,000. Cash 38,400. Unearned Rent Revenue [2017 slips – 60 X $800 X (1.00 – .20)] 38,400 (b) The marina operator should recognize that advance rentals generated $190,400 ($152,000 + $38,400) of cash in exchange for the marina’s promise to deliver future services. ................
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