Benson Company's income statement showed rent expense of $16,000.The beginning balance in Prepaid Rent was $5,000.The ending balance in Prepaid Rent was $3,000.The cash paid for rent was ________.

Question

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Rent expense is $16,000. The beginning balance in Prepaid Rent is $5,000. The ending balance in Prepaid Rent is $3,000. So the cash paid for rent is $16,000 - $5,000 + $3,000 = $14,000.

Benson Company's Income Statement Showed Rent Expense of $16,000