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On January 1 of the current year, Oliver Company paid $2,100 in rent to cover six months (January June). Oliver recorded this transaction as follows

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On January 1 of the current year, Oliver Company paid $2,100 in rent to cover six months (January June). Oliver recorded this transaction as follows EEB (Click the icon to view the journal entry.) Oliver adjusts the accounts at the end of each month. Based on these facts, the adjusting entry at the end of January should include O A. a credit to Prepaid Rent for $350. Data Table O B. a debit to Prepaid Rent for $1,750 O C. a credit to Prepaid Rent for $1,750. O D. a debit to Prepaid Rent for $350. Journal Entry Date Debit Credit Accounts Jan 1 Prepaid Rent 2,100 Cash 2,100 Print Done

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