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Howard Inc. had prepaid rent of $80,000 and $90,000 at the end of 2020 and 2021, respectively. During 2021, Howard recorded $245,000 in rent expense

Howard Inc. had prepaid rent of $80,000 and $90,000 at the end of 2020 and 2021, respectively. During 2021, Howard recorded $245,000 in rent expense in its income statement. Cash outflows for rent in 2021 were:

Multiple Choice

  • $235,000.
  • $245,000.
  • $255,000.
  • $265,000.

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