Need help!

Using accrual accounting, expenses are not recorded until the cash for the expense is disbursed. True False On January 1 of the current year, Jasmine Company paid $1,800 rent to cover six months (January through June). Jasmine recorded this transaction as follows: Date Accounts Debit Credit Jan 1 Prepaid Rent 1,800 Cash 1,800 Jasmine's adjusting entry at the end of February included a debit to Rent Expense in the amount of $300. What effect does the adjusting entry have on Jasmine's net income for February? O A. decrease by $300 B. increase by $600 C. increase by $300 D. decrease by $600 On January 1 of the current year, Bambi Company paid $300 rent to cover six months (January through June). Bambi recorded this transaction as follows: Date Accounts Debit Credit Jan 1 Prepaid Rent 300 Cash 300 Bambi adjusts the accounts at the end of each month. Based on these facts, the adjusting entry at the end of January should include ..... A. a debit to Prepaid Rent for $50. B. a debit to Prepaid Rent for $250. C. a credit to Prepaid Rent for $50. D. a credit to Prepaid Rent for $250. Net income appears on A. only the income statement B. both the income statement and the balance sheet C. only the balance sheet D. both the income statement and the statement of retained earnings