On July 1 the Concord Corporation paid $19200 to Acme Realty for 6 months rent beginning July 1. Prepaid Rent was debited for the full amount. If financial statements are prepared on July 31, the adjusting entry to be made by the Concord Corporation is: debit Prepaid Rent, $3200; credit Rent Expense, $3200. O debit Rent Expense, $19200; credit Prepaid Rent, $16000. O debit Rent Expense, $3200; credit Prepaid Rent, $3200 O debit Rent Expense, $19200; credit Prepaid Rent, $3200