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, $$4,800$; Prepaid Rent $$0.$

Rent Expense, $$1,600$; Prepaid Rent $$3,200.$

Rent Expense, $$1,600$; Prepaid Rent $$4,800.$

Rent Expense, $$3,200$; Prepaid Rent $$1,600.$