Answer the following questions about prepaid expenses: a. On November 1, Air and Sea Travel Ltd. prepaid $5,600 for three months' rent. Give the adjusting entry to record rent expense at December 31. Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at December 31. Air and Sea Travel adjusts the accounts only at December 31. b. On December 1, Air and Sea Travel paid $810 for supplies. At December 31, Air and Sea Travel has $520 of supplies on hand. Make the required journal entry at December 31. Then post all amounts to the accounts and show their balances at December 31. a. Prepare the adjusting journal entry to record the rent expense at December 31. (Record debits first, then credits. Enter explanations on the last line. Round your answers to the nearest dollar.) Journal Entry Date Accounts and Explanations Debit Credit Dec 31 Post the November 1 and December 31 transactions to the following T-accounts. Be sure to calculate the ending balance of the accounts. (Leave any unused cells blank.) Prepaid Rent Rent Expense Nov Dec Dec Dec Bal Bal b. Prepare the adjusting journal entry to record the supplies expense at December 31. Journal Entry Date Accounts and Explanations Debit Credit Dec 31 Post the December 1 and 31 transactions to the following T-accounts. Be sure to calculate the ending balance of the accounts. (Leave any unused cells blank.) Supplies Supplies Expense Dec Dec Dec Dec Bal Bal