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On October 1, Year 1, Jason Company paid $3,000 to lease office space for one year...

On October 1, Year 1, Jason Company paid $3,000 to lease office space for one year beginning immediately. What is the amount of rent expense that will be reported on the Year 1 income statement and what is the cash outflow for rent that would be reported on the Year 1 statement of cash flows?

Multiple Choice

$500; $3,000

$750; $750

$750; $3,000

$3,000; $3,000

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