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QUESTION
Tom Smith Corp's prepaid rent was $16,000 at December 31, 2016 and $24,000 at December 31, 2017. The company reported rent expense of $20,000 on the...
Tom Smith Corp's prepaid rent was $16,000 at December 31, 2016 and $24,000 at December 31, 2017. The company reported rent expense of $20,000 on the 2017 income statement. What amount would be reported in the statement of cash flows as rent paid using the direct method?
