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You purchased a an apartment building and have your first renter. Your terms for the...

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Accounting

You purchased a an apartment building and have your first renter.
Your terms for the apartments are:
Rent is $2,400 a month,
Pay up front a $600 deposit, and
1st and last month's rent.
So the renter has to pay up front, $7,800.
Joe Smith comes in to rent an apartment,
He agrees to the terms and pays his $7,800.
He travels a lot and does not want to have to keep track of the rent, so he decides to pay
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