Item17 3 points time remaining 36 minutes 46 seconds 00: 36: 46 item 17 item 17 3 points time remaining 36 minutes 46 seconds 00: 36: 46 a company reports operating expenses of $5 million. operating expenses include rent expense. prepaid rent at the beginning and end of the year is $120,000 and $80,000, respectively. all other operating expenses were paid in cash as incurred. what is the amount of cash paid for operating expenses? multiple choice $5,000,000. $5,040,000. $4,960,000. $5,080,000.

$4,960,000

Explanation:

The rent was prepaid therefore, it is an accrued expense It do not involve the disbursement of cash for this period.

Rent expense will be the difference between beginning and ending prepaid rent:

120,000 - 80,000 = 40,000 rent expense

This will be reduced from the operating expenses:

operating expense - accrued expense = cash expenses

5,000,000 - 40,000 = 4,960,000 cash used for operating expenses

forbearance of student loan payments. under forbearance, your loan payments are postponed (or reduced) but interest continues to accrue during the period of forbearance. if you don't pay the interest during that period, the interest may be “capitalized,” which means it is added to your principal balance.

you can put this in your 11 sentence summary

" most of the money would be invested in innovation, economic convergence."