7. On December 1,2019 , Fleet Company paid $30,000 rent for some office space which was debited in full to the prepaid rent expense account. The rent was for three months. Assuming Fleet's accounting year ends December 31, give the adjusting entry required on December 31, 2019. 8. Granger Corporation reported total assets of $5,200,000, total current liabilities of $2,300,000, and total long-term liabilities of $1,200,000. Therefore, the stockholders' equity was 9. On January 1, 2019, Madison Company had $60,000 of Retained Earnings. During 2019 Madison earned net income of $100,000 and declared and paid dividends of $15,000. In addition, the company received cash of $25,000 as an additional investment by its owners. Therefore, the ending balance in Retained Earnings at December 31, 2009 was 0. On December 31, 2009 (the end of the accounting period), the manager of Jordan Creek Apartments noticed that four tenants had not paid their December rent amounting to $500 each (and not yet recorded) What is the adjusting entry required on December 31,2009