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On October 1, John Company paid $3,600 in advance for 12 months of rent, with the rental period beginning on October 1. This $3,600 was
On October 1, John Company paid $3,600 in advance for 12 months of rent, with the rental period beginning on October 1. This $3,600 was recorded as Pre-Paid Rent Expense. As of the end of the year, no entry has yet been made to adjust the amount initially recorded. Which ONE of the following will be included in the ADJUSTING ENTRY necessary on December 31? O A CREDIT to PREPAID RENT for $2.700. O A DEBIT to PREPAID RENT for $2,700. O A DEBIT to RENT EXPENSE for $900. A CREDIT to PREPAID RENT for $2,700. O A DEBIT to PREPAID RENT for $900, O A DEBIT to CASH for $900
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