On 1 January 20X1, Pradelle leases out a shop under an operating lease with a lease term of 36 months. The first 3 months are free; thereafter, the lessee pays 2,000 a month, at the beginning of each month. Pradelle applies the straight-line basis. Record the summary entry for lease income for 20X1.
- Lease term
- 36
- Rent-free period
- 3
- Monthly payment after the rent-free period (payable in advance)
- 2,000