Question: If a cash method tenant writes a $10,000 check on November 20th for back rent in October, but waits to mail the check until December

If a cash method tenant writes a $10,000 check on November 20th for back rent in October, but waits to mail the check until December 25th. The unrelated landlord receives the check on January 2nd. The landlord does not get around to cashing the check until February 1st. What month  and calculate what is the tenant entitled to a deduction for the $10,000 rent check?

Step by Step Solution

3.28 Rating (151 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

In this scenario since the tenant is using the cash method of accounting the deduction fo... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!