La More Company had the following transactions during 2013: Sales of $4,500 on account Collected $2,000 for services to be performed in 2014 Paid $1,875 cash in salaries for 2013 . Purchased airline tickets for $250 in December for a trip to take place in 2014 What is La More's 2013 net income using accrual accounting? 1) $2,875 2) $4,875 3) $4,625 4) $2,625 Save Question 36 (1.66 points) The balance in the prepaid rent account before adjustment at the end of the year is $15 and represents three months rent paid on December 1. The adjusting entry r December 31 is: equired on 1) debit Prepaid Rent, $5,000: credit Rent Expense $5,000