Flora's Flowers, Inc. (FF Inc.) - You will need the following information to answer the next six questions. PLEASE NOTE - these facts will only be presented in this question. Listed below are the accounts and their respective balances for FF Inc. at December 31, 2019: Cash Accounts Receivable Inventory (4,000 Flowers @ $5 each) Prepaid Rent Land Equipment Accumulated Depreciation Security Deposit Accounts Payable Taxes Payable Wages Payable Note Payable Common Stock (200 shares) Retained Earnings Paid cash for wages of $24,000. Paid ten months' rent, $10,000. (Be careful!) $ 40,000 26,000 20,000 1,000 120,000 40,000 14,250 2,000 14,000 4,000 7,000 70,000 During 2020 the following transactions occurred: Paid prior year's accounts payable. Received prior year's accounts receivable. Purchased 13,000 Flowers at $6 each. Paid 60% down and will pay the rest later. Sold 14,000 Flowers for $13 each with 70% down (cash) and the other 30% will get later. Paid 2019 taxes payable. 60,000 79,750 Paid $4,000 for advertising for 2020. Sold 200 shares of common stock for $400 each on August 31, 2020. Paid utility bill for 2020 - $2,000. On Dec 31, paid annual payment on note payable of $10,000 principal plus $3,500 interest. Paid a $2,200 dividend to shareholders on December 31, 2020. What is the journal entry to record the rent paid during 2020? Also, during the year the company paid 50% of the 2020 taxes. They will pay the rest next year. The tax rate is 30%. The company uses the FIFO inventory system. At Dec 31, 2020, the company owed $2,000 in wages which had not yet been paid. The equipment originally cost $40,000, had a eight-year life and was expected to be worth $2,000 at the end