On January 1st, a business paid $7200 for six month's rent. the six month period is January through June. what adjustment should be made at the end of january?

- debit rent expense for $7200 and credit prepaid rent for $7200

- debit rent expense for $1200 and credit prepaid rent for $1200

- debit rent expense for $14400 and credit prepaid rent for $14400

- no adjustment is required at the month end