b. 4. Adjusting entries affect at least one: a. Revenue and one expense account Asset and one liability account e. Revenue and one stockholders' equity account d. Income statement account and one balance sheet account 5. The balance in the prepaid rent account before adjustment at the end of the year is $18,000, which represents three months" rent paid on December 1. The adjusting entry required on December 31 is: a. Debit Rent Expense, $6,000; credit Prepaid Rent, $6,000 b. Debit Prepaid Rent, $6,000; credit Rent Expense