On November $1,$$$4,800$ of rent on equipment for the next six months was paid and charged to Prepaid Rent. At the end of the year, the financial statements would report:

Multiple Choice

Rent Expense, $$1,600$ : Prepaid Rent $$3,200$

Rent Expense, $$1,600$ : Prepaid Rent $$4,800$

Rent Expense, $$3,200$ : Prepaid Rent $$1,600$

Rent Expense. $$4\mathrm{.}800$ : Prepaid Rent $$0$