18. Jenna Newbury began a music business in July 2021. Newbury prepares monthly financial statements and uses the accrual basis of accounting. The following transactions are Newbury's only activities during July through October: (3) 20. On Oct. 1st, ABC Co prepaid $12,600 for six months of rent. Assuming monthly adjustments are made on the last day of each month, what will the balance of prepaid rent be as of Oct. 31st? (3) a. $4,200 b. $2,100 c. $10,500 d. $8,400 21. On Oct. 15t, ABC Co prepaid $12,600 for six months of rent. Assuming monthly adjustments are made on the last day of each month, the adjusting entry on Oct. 3144 would include (3) a. a debit to prepaid rent for $2,100 b. a credit to Prepaid Rent for $2,100. c. a debit to Prepaid Rent for $12,600. d. a credit to Prepaid Rent for $12,600