On April 1, Year 2, Maine Corporation paid $9,000 cash in advance for a one-year lease on an office building. Assume that Maine records the prepaid rent as an asset and that the books are closed on December 31. Required a. Show the payment for the one-year lease and the related adjusting entry to recognize rent expense in the accounting equation. (Not all cells require input. Do not round intermediate calculations. Enter any decreases to account balances with a minus sign.) MAINE CORPORATION Accounting Equation Year 2 Assets Stockholders' Equity Prepaid Common Cash Retained Rent Stock Earnings Event Paid rent in advance Adjusting rent expense Totals Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 210 units at $42 per unit. During the year, Cortez made two batch purchases of this chair . The first was a 250-unit purchase at $47 per unit; the second was a 365-unit purchase at $49 per unit. During the period, it sold 500 chairs. Required Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses a. FIFO b. LIFO c. Weighted average (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) FIFO LIFO Weighted Average Cost of goods sold Ending inventory