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 transaction.) Oliver's adjusting entry at the end of February included a debit to Rent Expense in the amount of $350. What effect does the adjusting entry have on Oliver's net income for February? O A. Net income will decrease by $350 0 B. Net income will increase by $350 O C. Net income will increase by $700 O D. Net income will decrease by $700 Data Table Journal Entry DebitCredit Date Accounts Jan 1 Prepaid Rent 2,100 Cash 2,100 PrintDone