on july 1, waterways sports paid 14480 to carla vista realty for 4 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 waterways sports is:

debit rent expense 14480; credit prepaid rent 3620

debit rent expenses 3620; credit prepaid rent 3620

debit rent expense 14480; credit prepaid rent 14480

debit prepaid rent 3620; credit rent expense 3620