Question

Billy, as the owner of an apartment building, receives and makes the following pymts during 2017:

a) Received in Jan 2017 rent that was due in Dec. 2016 5000
b) Received in Dec. 2017 rent not due until Jan 2018 4000
c) Security deposit which is to be refunded when tenant vacates the apartment.

Answer 1

The subject of this question is Business, and it pertains to the different types of payments received and made by the owner of an apartment building.

Step-by-step explanation:

The subject of this question is Business.Billy, as the owner of an apartment building, receives and makes different types of payments throughout 2017. These payments include:

Payment received in Jan 2017 for the rent that was due in Dec. 2016 totaling $5,000.

Payment received in Dec. 2017 for rent that is not due until Jan 2018 totaling $4,000.

Security deposit, which is refundable to the tenant when they vacate the apartment.

It is important for Billy to keep track of these payments and manage them properly as part of his rental property business.