GH&F is a calendar year, accrual basis taxpayer. In October 2019, GH&F received a $18,000 cash payment from a tenant who leases space in a commercial office building that GH&F owns. The payment was rent for the 18-month period beginning on November 1, 2019. As a result of the payment, GH&F should report:
A. $18,000 book income and taxable income
B. $2,000 book income and $18,000 taxable income
C. $2,000 book income and taxable income
D. None of the above
Answer: B
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