On 12/1/2022 QuickBooks Company paid 12 month of rent in advance for their office space for $48,000. The amount was recorded inititally as Prepaid Rent. The adjusting entry at 12/31/22 would be:

Multiple Choice

A. ^{Debit Prepaid Rent and credit Rent expense in the amount of $44,000.}

B. ^{Debit Rent Expense and credit Prepaid Rent in the amount of $44,000.}

C. ^{Debit Prepaid Rent and credit Rent expense in the amount of $4,000.}

D. ^{Debit Rent Expense and credit Prepaid Rent in the amount of $4,000.}