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Howard Inc. had prepaid rent of $88,000 and $98,000 at the end of 2017 and 2018, respectively. During 2018, Howard recorded $253,000 in rent expense

Howard Inc. had prepaid rent of $88,000 and $98,000 at the end of 2017 and 2018, respectively. During 2018, Howard recorded $253,000 in rent expense in its income statement. Cash outflows for rent in 2018 were:

Multiple Choice

  • $243,000.

  • $253,000.

  • $263,000.

  • $273,000.

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