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Rocket Company Paid $16,000 for January, February, March, and April

Question 60

Multiple Choice

Rocket Company paid $16,000 for January, February, March, and April rent in advance. The balance in the Prepaid Rent account as of January 31 is:

A) $4,000
B) $12,000
C) $16,000
D) $- 0-

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