On January $1$ of the current year, Aladdin Company paid $$600$ rent to cover six months $($January through June$).$ Aladdin recorded this transaction as follows:

Prepaid Rent $...................................600$

Cash $...................................600$

Aladdin adjusts the accounts at the end of each month. Based on these facts, the adjusting entry at the end of January should include:

$(1\%)$

a credit to Prepaid Rent for $$500$

a debit to Prepaid Rent for $$500$

a debit to Prepaid Rent for $$100$

a credit to Prepaid Rent for $$100$

Group of answer choices

a credit to Prepaid Rent for $$500$

a debit to Prepaid Rent for $$500$

a debit to Prepaid Rent for $$100$

a credit to Prepaid Rent for $$100$