Ludwig Company's prepaid rent was $9,500 at December 31, 2015, and...
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Accounting
Ludwig Company's prepaid rent was $9,500 at December 31, 2015, and $15,500 at December 31, 2016. Ludwig reported rent expense of $21,500 on the 2016 income statement. What amount would be reported in the statement of cash flows as rent paid using the direct method?
$21,500.
None of these answer choices is correct.
$15,500.
$27,500.
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