What was the balance in prepaid rent on the year-end

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Account for rent expense.

Florida's Number One Credit Solution Organization started the year with $1,850 of prepaid rent, $25,000 of cash, and $26,850 of retained earnings. During the year, Florida paid ad ditional rent in advance amounting to $16,275. The rent expense for the year was $16,850. What was the balance in prepaid rent on the year-end balance sheet?

Reference no: EM13937742

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