In anticipation of stocking Mookie The Beagle" Concierge branded inventory, Cy charged $864 for 6 months storage locker rental from Lynne's Space to Mookie The Beagle Concierge's VISA credit card on January 1, 2022. So at the end of the accounting period on January 31 Mookie The Beagle Concierge has used 1 month of rent 5144 ($864/6 months-$144 per month The unused rent ($720) is Prepaid Expense Prepaid Rent, an asset account with future benefit. Since Cy had not recorded anything related to the storage locker rental, an adjusting entry is needed to bring accounts up to date at January 31 1 Complete the following table. (Round your answer to 2 decimal places.) Account Rent & Lease VISA Credit Card Prepaid Expenses: Rent Account Type Expense Increase or Decrease? Debit or Credit? Amount Asset Liability