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A company prepays rent for 12 months at the end of March. The firm's fiscal year end is December 31. The amount paid was $15,000.
A company prepays rent for 12 months at the end of March. The firm's fiscal year end is December 31. The amount paid was $15,000. Which of the below is correct? a. All of the listed answers. b. The balance in prepaid rent at the end of the current year is $3,750. c. Operating cash flow for the current year is a cash outflow of $3,750. d. Rent expense for the current year will be $15,000
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