On December 15, 2020, A Company made the following correct journal entry:

Prepaid rent..........................................................24,000 Cash .................................................................................... 24,000

What transaction was the journal entry recording?

Select one:

a.

$24,000 cash received by "A" Company from a tenant for rent owing from 2020.

b.

A $24,000 advance payment by "A" Company to rent office space during next year.

c.

$24,000 cash received by "A" Company from a tenant for rent beginning January 1, 2021.

d.

A $24,000 rent payment to "A" Company because a tenant vacated its rented space a year early.