Journal entry worksheet Prepare the July 1 journal entry to record payment in advance for the rental policy. Note: Enter debits before credits. Journal entry worksheet Prepare the December 31 journal entry to record rent expense for the second year. Note: Enter debits before credits. Journal entry worksheet Prepare the December 31 year-end adjusting entry to record rent expense for the first year. Note: Enter debits before credits. A company paid $2,400 cash on July 1 for an 18 -month rental policy beginning on July 1 . The following dashboard shows the company's rent expense for the first year ending December 31, along with rent expense for the second year