14. On January 1, Karen's Kennels paid $1,200 rent for the next three months. This transaction was recorded as follows: 1,200 Rent Expense Cash 1,200 The adjusting entry at the end of January is Prepaid Rent Rent Expense A. 400 debit 400 credit B. 400 credit 400 debit C. 800 debit 800 credit D. 800 credit 800 debit 15. On January 1, Karen's Kennels paid $1,200 rent for the next three months. This transaction was recorded as follows: 1,200 Prepaid Rent Cash 1,200 The adjusting entry at the end of January is: Prepaid Rent Rent Expense A. 400 debit 400 credit B. 400 credit 400 debit 800 debit 800 credit D. 800 credit 800 debit C D 16. An asset has a cost of $5,000, a residual value of $500, and a life of 5 years. Depreciation for one year using the straight-line method is: A. S 500 B. $ 900 C. $1,000 D. S 4,500 17. The adjusting entry to record depreciation is: A. B. Depreciation Expense Credit Credit Debit Debit Accumulated Depreciation Debit Credit Debit Credit C