Answer the following questions about prepaid expenses a. On October 1, Paradise Tree Service prepaid $7.200 for six months' rent. Give the adjusting entry to record rent expense at Octu and show their balances at October 31. Paradise adjusts the accounts only at October 31, the end of its fiscal year. b. On October 1, Paradise Tree Service paid $1,100 for supplies. At October 31, Paradise has $800 of supplies on hand. Make the 31. Assume no beginning balance in supplies. a. On October 1. Paradise Tree Service prepaid $7, 200 for six months rent. Give the adjusting entry to record rent expense at Octob show their balances at October 31. Paradise adjusts the accounts only at October 31, the end of its fiscal year. Prepare the adjusting journal entry to record the rent expense at October 31. (Record debits first, then credits: Select the explanation Journal Entry Dato Accounts and Explanations Rent Expense 1,200 Prepaid Rent Debit Credit Oct 31 1,200 To record rent expense. Post the October 1 and 31 transactions to the following T-accounts. Be sure to calculate the ending balance of the accounts Prepaid Rent Rent Expense Oct 31 Bal Bal to record rent expense at October 31. Include the date of the entry and an explanation. Then post all amounts to the lwo accounts involved, d of its fiscal year. of supplies on hand. Make the required journal entry at October 31. Then post all amounts to the accounts and show their balances at October to record rent expense at October 31. Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and fiscal year en credits: Select the explanation on the last line of the journal entry table.) redit 1.200 ng balance of the accounts