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Curl Up & Dye Salon Company paid $4,200 for one year's rent in advance beginning on October 1, Year 1. The company's Year 1 income
Curl Up & Dye Salon Company paid $4,200 for one year's rent in advance beginning on October 1, Year 1. The company's Year 1 income statement would report rent expense, and its statement of cash flows would report cash outflow for rent, respectively, of
a) $1,050; $1,050
b) $700; $4,200
c) $1,050; $4,200
d) $4,200; $4,200
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