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Exercise $5-22($Algo$)$ Prepaid expenses$-$rent LO $5-10$

$[$The following information applies to the questions displayed below.$]$

On November $1,2022,$ Wenger Company paid its landlord $$3,900$ in cash as an advance rent payment on its store

location. The six$-$month lease period ends on April $30,2023,$ at which time the contract may be renewed.

Exercise $5-22($Algo$)$ Part d

d$.$ If the advance payment made on November $1,2022,$ had covered an $18-$month lease period at the same amount of rent per month,

how should Wenger Company report the prepaid amount on its December $31,2022,$ balance sheet?