Solved: The balance in the prepaid rent account was 226800 rent, Accounting Basics

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The balance in the prepaid rent account was 226800 rent

Adjustment for Prepaid Rent

Jarem Company showed $189,000 in prepaid rent on December 31, 2015. On December 31, 2016, the balance in the prepaid rent account was $226,800. Rent expense for 2016 was $472,500.

Required:

What amount of cash was paid for rent in 2016?

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Accounting Basics: The balance in the prepaid rent account was 226800 rent

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Accounting Basics: The balance in the prepaid rent account was 226800 rent

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