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What comfy home will record a debit of

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In December 2017, Comfy Home prepaid $20,000 of rent for one of its stores. The prepaid rent covers rent for the first six months of 2018. Because the rent was paid in cash in 2017, it is included in the calculation of the 2017 taxable income on the tax return.

Comfy Home's tax rate is 20%.

Problem 1: In 2018, Comfy Home will record a debit of

Reference no: EM132693935

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