Under accrual basis, an entity reported rental income for the current year of P1,500,000. The entity provided the following additional information regarding rental income: Unearned rental income,...

Under accrual basis, an entity reported rental income for the current year of P1,500,000. The entity provided the following additional information regarding rental income: Unearned rental income, January 1 125,000 Unearned rental income, December 31 187,500 Accrued rental income, January 1 75,000 Accrued rental income, December 31 100,000 Under cash basis, what amount was received from rental in the current year? Group of answer choices

1,462,500

1,562,500

1,537,500

1,637,500