The Superior Real Estate Corporation reported rental income totaling $175,000 for the year ending December 31,2015.The following information was obtained from Superior Corporation's balance sheets: $$\begin{array}{l}\begin{array} { l l l }
&\underline { 1 / 1 / 15 } & \underline { 12 / 31 / 15 }\

\text { Unearned Rent } & \$ 7,500 & \$ 6,750 \
\text { Rent Receivable } & \$ 9,250 & \$ 6,750
\end{array}
\end{array}$$
How much cash did Superior collect from its tenants during 2015?

Question

The Superior Real Estate Corporation reported rental income totaling $175,000 for the year ending December 31,2015.The following information was obtained from Superior Corporation's balance sheets: $$\begin{array}{l}\begin{array} { l l l } 
&\underline { 1 / 1 / 15 } & \underline { 12 / 31 / 15 }\

\text { Unearned Rent } & \$ 7,500 & \$ 6,750 \
\text { Rent Receivable } & \$ 9,250 & \$ 6,750
\end{array}
\end{array}$$
How much cash did Superior collect from its tenants during 2015?

Quizplus · Accepted Answer

The Answer of The Superior Real Estate Corporation reported rental income totaling $175,000 for the year ending December 31,2015.The following information was obtained from Superior Corporation's balance sheets: $$\begin{array}{l}\begin{array} { l l l } 
&\underline { 1 / 1 / 15 } & \underline { 12 / 31 / 15 }\

\text { Unearned Rent } & \$ 7,500 & \$ 6,750 \
\text { Rent Receivable } & \$ 9,250 & \$ 6,750
\end{array}
\end{array}$$
How much cash did Superior collect from its tenants during 2015?

The Superior Real Estate Corporation Reported Rental Income Totaling $175,000