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On July 1, Disco Co. prepaid $4,800 in rent for the next six months (July through December). Disco prepares financial statements at the end of
On July 1, Disco Co. prepaid $4,800 in rent for the next six months (July through December). Disco prepares financial statements at the end of every month. What is the balance in Prepaid Rent on the balance sheet for the month ended October 31, after all adjusting entries have been made?
a. $3,200
b. $1,600
c. $2,400
d. $800
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