Accounting / July 19, 2018 / Khloe Santiago
A commercial lease agreement is a contract to rent retail, office, or industrial space between a landlord and tenant. The tenant pays a monthly amount to the landlord in return for being allowed the right to use the premises for their business purpose. Commercial leases are generally longer than residential types, between 3-5 years, and is common for the tenant to have options to renew at pre-determined monthly rates.
Sales is the exchange of products or services for money, either paid for now or in the future. When your business provides a product to a customer in exchange for consideration, the business has made a sale and can report that sale on its financial statements. Sales form the beginning of the income statement, and all expenses are subtracted from the total amount of sales to show the profit from the business.
We Also Think You’ll Like