Ludwig Company's prepaid rent was $7,000 at December 31, 2015, and $13,000 at December 31,...
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Accounting
Ludwig Company's prepaid rent was $7,000 at December 31, 2015, and $13,000 at December 31, 2016. Ludwig reported rent expense of $20,000 on the 2016 income statement. What amount would be reported in the statement of cash flows as rent paid using the direct method?
$14,000.
$20,000.
$26,000.
None of these answer choices is correct.
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