If Tanya's Trinkets had beginning balance in Rent Payable of $1,000 and the company paid 14 months' rent of $14,000 Rent Expense Prepaid Rent Cash 14,000 1,000 15,000 Rent Expense Cash 14,000 14,000 Some other entry Rent Expense 12,000 Rent Payable 1,000 Prepaid Rent 1,000 Cash 14,000 Rent Expense 16,000 Rent Payable 1,000 Prepaid Rent 1,000 Cash 14,000