Brad operates a storage business on the accrual method.On July 1 Brad paid $48,000 for rent on his storage warehouse and $18,000 for insurance on the contents of the warehouse.The rent and insurance cover the next 12 months.What is Brad's deduction for the rent and insurance?
A)$48,000 for the rent and $18,000 for the insurance.
B)$24,000 for the rent and $18,000 for the insurance.
C)$24,000 for the rent and $9,000 for the insurance.
D)$48,000 for the rent and $9,000 for the insurance.
E)None of the choices are true.

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The Answer of Brad operates a storage business on the accrual method.On July 1 Brad paid $48,000 for rent on his storage warehouse and $18,000 for insurance on the contents of the warehouse.The rent and insurance cover the next 12 months.What is Brad's deduction for the rent and insurance?
A)$48,000 for the rent and $18,000 for the insurance.
B)$24,000 for the rent and $18,000 for the insurance.
C)$24,000 for the rent and $9,000 for the insurance.
D)$48,000 for the rent and $9,000 for the insurance.
E)None of the choices are true.

Brad Operates a Storage Business on the Accrual Method