Question: On January 1 , 2 0 2 3 , the firm paid $ 8 0 , 0 0 0 for a 1 0 - month

On January 1,2023, the firm paid $80,000 for a 10-month rent. The rent runs from January 1,2023, through October 31,2023. What is the dollar amount of the rent that the firm would need to include as a prepaid expense entry on its year-end Balance Sheet (as of December 31,2023)?
a. $80,000
b. $64,000
c. $16,000
d. $0
On January 1 , 2 0 2 3 , the firm paid $ 8 0 , 0

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