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Paolo Co. paid 25,000 for the next five months' rent on April 1 and properly recorded the transaction as Prepaid Rent. Paolo prepares monthly financial

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Paolo Co. paid 25,000 for the next five months' rent on April 1 and properly recorded the transaction as Prepaid Rent. Paolo prepares monthly financial statements. The financial statements for the month ended May 31 will report O $10,000 in Rent Expense O $15.000 in Rent Expense $15,000 in Prepaid Rent O $10,000 in Prepaid Rent

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