On July 1 the Fisher Shoe Store paid $24,000 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 Fisher Shoe Store is: A) debit Rent Expense, $4,000: credit Prepaid Rent, $4,000 B) debit Rent Expense, $24,000: credit Prepaid Rent, $4,000 C) debit Prepaid Rent, $4,000, credit Rent Expense, $4,000 D) debit Rent Expense, $24,000, credit Prepaid Rent, $20,000 The Harris Company purchased equipment for $15,000 on December 1. It is estimated that annual depreciation on the computer will be $3,000. If financial statements are to be prepared on December 31, the company should make the following adjusting entry