On August 1, Gear Up of Toledo prepaid six months of rent, $3,600. Read the requirements. Requirement 1. Record the journal entry for the August 1 payment. (Record debits first, then credits. Select th explanation on the last line of the journal entry table.) Requirement 2. Record the adjusting entry required at August 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Requirements 1. Record the journal entry for the August 1 payment. 2. Record the adjusting entry required at August 31 . 3. Using T-accounts, post the journal entry and adjusting entry to the accounts involved and show their balances at August 31. (Ignore the Cash account.)