Mundo Company Is a Calendar Year, Accrual Basis Taxpayer

Mundo Company is a calendar year, accrual basis taxpayer. In June 2012, 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, 2012. 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