Due to the terms of its lease, Eagle Services, Inc., pays the rent for its new office space in one annual payment of exist21,000 on August 1, 2016. The lease covers the period of August 1, 2016, through July 31, 2017. Eagle Services has a year-end of December 31. Assume that Eagle Services had no other prepaid rent transactions, nor did it have a Prepaid Rent beginning balance in 2016. Give the journal entries that Eagle Services would make for (a) the annual rent payment of exist21,000 on August 1 and (b) the adjusting entry for rent expense on December 31, 2016. What is the balance of Prepaid Rent at December 31, 2016? Give the journal entries that Eagle Services would make for (a) the annual rent payment of exist21.000 on August 1 and (b) the adjusting entry for rent expense on December 31, 2016. What is the balance of Prepaid Rent at December 31, 2016? (Record debits first, then credits. Exclude explanations from any journal entries.) Give the journal entry that Eagle Services would make for (a) the annual rent payment of exist21,000 on August 1. Give the journal entry that Eagle Services would make for (b) the adjusting entry for rent expense on December 31, 2016. (Do not round any intermediary calculations, and round your final answer to the nearest whole dollar.) What is the balance of Prepaid Rent at December 31, 2016? Prepaid rent balance at December 31 is exist