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Direct Method Using the following data for Smith & Sons, calculate the cash paid for rent: Rent expense $80,000 Prepaid rent January 1 10,000 Prepaid

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Direct Method Using the following data for Smith & Sons, calculate the cash paid for rent: Rent expense $80,000 Prepaid rent January 1 10,000 Prepaid rent December 31 8,000 Cash paid for rent $ 0

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