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Finnish Motors has the following balance sheet accounts: Land $150,000 Equipment 90,000 Salaries Payable 12,000 Notes Payable 99,000 Supplies 10,000 Cash 25,000 Common Stock 40,000
Finnish Motors has the following balance sheet accounts:
Land | $150,000 |
Equipment | 90,000 |
Salaries Payable | 12,000 |
Notes Payable | 99,000 |
Supplies | 10,000 |
Cash | 25,000 |
Common Stock | 40,000 |
Retained Earnings | 100,000 |
Accounts Payable | ? |
Prepaid Rent | ? |
If the company has total liabilities and stockholders' equity of $290,000, what is the balance of the company's Prepaid Rent account?
$15,000.
$25,000.
$12,000.
$39,000.
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