debit Prepaid Rent and credit Cash, $50,000 debit Rent Expense and credit Prepaid Rent, $70,000 debit Prepaid Rent and credit Rent Expense, $70,000 Question 8 4 pts If the Accounts Payable account starts with a normal balance of $34,500, and the firm purchases $4,300 worth of inventory on account, and later pays $12,700 on the accounts payable amount due, what is the ending balance of Accounts Payable? O A debit balance of $21,800 O A credit balance of $21,800. O A debit balance of $26,100. O A credit balance of $26,100. Question 9 4 pts Sparky, Inc. received cash in advance for 2 years rent from a September 20x1 in the amount of $180,000. The original entry was recorded with a credit to Rent Revenue. No adjusting or correcting entries were ever made. How did this error affect the 20x2financial statements ? Net Net Assos Liabilies Equity Assets Liabilities Equay Income Income 80 DM 78 15 F6 F2 59 10 A # $ % 00 N C 9 2 3 4 5 6 8 0