(Answered) Long beach inc a lessor charges applewood corp a lessee a

Accounting

Long Beach, Inc., a lessor, charges Applewood Corp., a lessee, a $12,000 nonrefundable fee to enter into a five-year operating lease. The lease is effective on July 1, 2015. It provides for monthly rental of $2,000. In Applewood's income statement for the year endedJune 30, 2016, rent expense should be

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