Once a year, Leonard rents out his personal home when the nearby convention center holds...
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Accounting
Once a year, Leonard rents out his personal home when the nearby convention center holds a comic book convention. Demand is very high for the two-week-long convention. So, Leonard charges $1,000 a night for his home. He has $300 of expenses in preparing for the rental. In 2022, he rented the home for 12 days total. How much rental income and expense will be reported and where will it be reported?
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