On September 1, 2024 Real Estate Professionals Company paid $6,000 in advance for an eight-month rental space covering the period of September 1, 2024 through April 30, 2025. The deferred expense was initially recorded as an asset The company makes adjusting entries once a year at year-end. The adjusting entry on December 31, 2025 would include a O A. debit of $6,000 to Cash B. debit of $3,000 to Rent Expense C credit of $6,000 to Prepaid Rent D. credit of $3,000 to Rent Expense On January 1, Unearned Revenue of Commercial Plumbing Services Company had a beginning balance of $1,500. During January, the company earned $1,000 of the deferred revenue. The company also collected $5,000 from a new customer for services to be performed the following month At the end of January, the Unearned Revenue account should have a balance of $5,000 True False