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3 . The balance in the Prepaid Rent Account on January 1 (first day of the fiscal year) for Modern Company was $1,320. On March

3 . The balance in the Prepaid Rent Account on January 1 (first day of the fiscal year) for Modern Company was $1,320. On March 1 it renewed its lease agreement for 1 full year making a payment of 5...

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