Addon Corporation paid cash of $24,000 on June 1, 2016 for one years rent in advance and recorded the transaction with a debit to Prepaid Rent. The December 31, 2016 adjusting entry is

debit Prepaid Rent and credit Rent Expense, $12,000.
		debit Prepaid Rent and credit Rent Expense, $14,000.
		debit Rent Expense and credit Prepaid Rent, $14,000.
		debit Rent Expense and credit Prepaid Rent, $12,000.