If a company records prepayment of expenses in an asset account, the adjusting entry when all or part of the prepaid asset is used or expired would:

		Result in a debit to an expense and a credit to an asset account.
		Cause an adjustment to prior expense to be overstated and assets to be understated.
		Cause an accrued liability account to exist.
		Result in a debit to a liability and a credit to an asset account.
		Decrease cash.