(Answered) Exercise working backward rent receivablerandys rentals

Accounting

Exercise : Working Backward: Rent Receivable

Randy's Rentals reported the following on its year-end balance sheets:

December 31,

2014

December 31,

2013

Current Assets: Rent receivable

$55,000

$35,800

Randy's rents space to a number of tenants, all of whom pay their monthly rent on the 10th of the following month. Randy's reported rent revenue for 2014 of $64,200.

Required

How much cash did Randy's collect from its tenants during 2014? Explain your answer.

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