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Panda Corporation paid cash of $48,000 on June 1, 2020 to use an office from June 1, 2020 until May 31, 2021. On its December

Panda Corporation paid cash of $48,000 on June 1, 2020 to use an office from June 1, 2020 until May 31, 2021.

On its December 31, 2020 balance sheet, Panda should report Prepaid Rent of

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