Homework stion list uestion 3 K Part 2 of 3 Points: 0.25 of 1 Save On July 1, Ace Sport of Toledo prepaid six months of rent, $5,100 Read the requirements Requirement 1. Record the journal entry for the July 1 payment. (Record debits first, then credits Select the explanation on the last line of the journal entry table) Date Accounts and Explanation uestion 4 Jul 1 Prepaid Rent Cash Jestion 5 estion 6 estion 7 estion 8. estion 9 Debit Credit 5,100 5,100 apter 3 To record rent paid in advance Requirement 2. Record the adjusting entry required at July 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Date Accounts and Explanation Incorrect: 1 Debit Credit Jul 31 1) 1) /1) (0/5) Help