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46. If December 1, your company opens for business and leases space in a building for $1,000 per month and pays 3 months' rent in
46. If December 1, your company opens for business and leases space in a building for $1,000 per month and pays 3 months' rent in advance. On December 31, the balance in Rent Expense is $3,000, it means that the advance payment for rent was recorded in ... a. Prepaid Rent, which must now be credited for $1,000. b. Rent Expense, which must now be credited for $2,000. c. Prepaid Rent, which must now be debited for $1,000. d. Rent Expense, which must now be debited for $2,000
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