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At the first of the month Maria paid a total of $2,400 for six months' rent in advance. When she recorded the payment, she entered
At the first of the month Maria paid a total of $2,400 for six months' rent in advance. When she recorded the payment, she entered $2,400 into the Prepaid Rent account. At the end of the month, what adjustment should Maria make? Select one: a. Decrease Prepaid Rent by $2,400 and decrease Rent Expense by $2,400. b. None of the other options given c. Increase Prepaid Rent by $400 and increase Rent Expense by $400. d. Decrease Prepaid Rent by $400 and increase Rent Expense by $400.
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