1. On October 1, 2020 the company paid 7,200 to lease office space for one year beginning immediately. On October 1, 2020, the following entry was made. Dr prepaid Rent$7,200 Cr Cash 7,200. What entry should be made at December 31, 2020 to correctly record the rent expense incurred in the year 2020. 2. On January 1, 2020 the supplies account had a balance of 1,200. During the year the company purchased 3,400 of supplies for cash. On December 31, 2020 Saul determined that there were 1,400 of supplies on hand. what entry should be made at December 31, 2020 to correctly record supplies expense incurred during the year