n August 1, 2021 LYZ Co. paid $12,000 for 12 months of rent coverage. No adjustments have been made to the prepaid rent account, and now it's December 31, 2021. Required: adjustment entry at December 31, 2021 will be Dr Rent Expense 5,000 Cr Prepaid Rent 5,000 Dr. Prepaid Rent 2,000 Cr Rent Expense 2,000 Dr Cash 5,000 Cr Rent Expense 5,000