On Dec. 15, 2019, Julies Tax Prep, a cash-method taxpayer, prepaid $4,000 worth of deductible interest on a business loan. The interest wont accrue until January 2020. Julies Tax Prep will be displaying for the first time at a trade show in July 2020. On Dec. 16, 2019, Julies prepaid the $8,000 trade show booth rental expense. The payment isnt due until May 2020, and the use of the booth will occur in July 2020. In addition, On Dec. 28, 2019, Eds Equipment repaired some equipment in Julies office and billed Julies $2,000. Julies received the invoice on Dec. 28, 2019, and paid the $2,000 invoice on Jan. 29, 2020. In addition to the $14,000 in expenses, in Dec. 2019, Julies Tax Prep paid two years worth of office rent ($1,000/month * 24 months = $24,000). The rent covers Dec. 1, 2019, through Nov. 30, 2021. How much of the $24,000 rent can Julies deduct in 2019?

Note the answer is not 24000 or 12000