Assume Shehata Coffee Company had a Prepaid Rent Asset account with a beginning balance of $10,000. During the year 2022, an additional $2,000 of rent was paid in advance and recorded in this Asset account. If the company reports Rent Expense on the 2022 Income Statement of 8,000, what is the value of the Prepaid Rent Asset account on the balance sheet at the end of 2022? Please provide your answer without a $ sign, just input the number.

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I apologize for the confusion in my previous response To clarify If the result of the calculatio... View the full answer