Happy Valley Catering prepaid rent of $36,000 on January 1, 2019 for the following year. The Journal Entry for rent for each month during 2018 would be: Prepaid Rent, debit $36,000; Rent Expense, credit $36,000 Prepaid Rent, credit $3,000; Rent Expense, debit $3,000 Prepaid Rent, credit $36,000; Rent Expense debit $36,000 O Prepaid Rent, debit $3,000; Rent Expense, credit $3,000