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  3. 18. a company receives rent from a large number of

18. A company receives rent from a large number of properties. The total received during...

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Accounting

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18. A company receives rent from a large number of properties. The total received during the year ended on April 30, 2016 was $481,295. The following were the amounts of unearned rent and rents receivable at April 30, 2015 and 2016: Unearned Rent Rents receivable, net April 30, 2015 $28,700 $21,255 April 30, 2016 $31,255 $18,400 Rents receivable, net" represents the net realizable value of rents receivable. The firm's income statement for the fiscal year ended on April 30, 2016 shows $500 bad debt expenses related to rents receivable. The company wrote off $5,000 rents receivable during the fiscal year ended on April 30, 2016. What amount of rental revenues should appear in the company's income statement for the year ended on April 30, 2016

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