Mundo Company Is a Calendar Year,accrual Basis Taxpayer

Mundo Company is a calendar year,accrual basis taxpayer.In June 2017,Mundo received a $72,000 cash payment from a tenant who leases space in a commercial office building that Mundo owns.The payment was rent for the 24-month period beginning on July 1,2017.As a result of the payment,Mundo should report:

A) $6,000 book income and taxable income
B) $72,000 book income and taxable income
C) No book income and $72,000 taxable income
D) None of the above