n32 X Co paid cash of $12,000 on1/6/ 2020 for one year's rent in advance and recorded the transaction with a debit to prepaid Rent expenses. The 31/12/ 2020 adjusting entry is? d out of question Select one: a. debit Prepaid Rent and credit Rent Expense, $5,000 0 b. debit Prepaid Rent and credit Rent Expense, $7,000 C. debit Prepaid Rent and credit Cash, $5,000. d. debit Rent Expense and credit Prepaid Rent, $7,000. o 137 Prior years income statements are not modified for out of Select one: o a. changes in accounting principle O b. corrections of errors question C. All of these answer choices are correct O d. changes in estimates