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Ludwig Company's prepaid rent was $9,000 at December 31, 2020, and $14,500 at December 31, 2021. Ludwig reported rent expense of $24,000 on the
Ludwig Company's prepaid rent was $9,000 at December 31, 2020, and $14,500 at December 31, 2021. Ludwig reported rent expense of $24,000 on the 2021 income statement. What amount would be reported in the statement of cash flows as rent paid using the direct method? Multiple Choice $24,000. $18,500. $29,500. None of these answer choices are correct.
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Accounting Information Systems
Authors: Ulric J. Gelinas, Richard B. Dull
10th edition
9781305176218, 113393594X, 1305176219, 978-1133935940
