Question $30$

Office Commander, Inc., signed a contract to lease an all$-$in$-$one print er to a new customer, Tina, on December $27,2023.$ The contract called for rent of $$300$ per month for a period of $3$

months beginning January $1,2024.$ Tina was required to pay the first and last month's rent at the time the lease was signed. Tina was also required to pay a $$1,500$ damage deposit.

Office Commander must recognize as income for the lease:

a$.$ $$600$ in $2023.$

b$.$ $$7,800$ in $2024,$ if Office Palace is a cash basis taxpayer.

c$.$ $$2,700$ in $2023,$ if Office Palace is a cash or accrual basis taxpayer.

d$.$ $$1,200$ in $2023.$