On September 1, Year 2, Stokes Company paid Eastport Rentals $35,000 for a 12-month lease on warehouse space. Required a. Record the deferral and the related December 31, Year 2, adjustment for Stokes Company in the accounting equation. b. Record the deferral and the related December 31, Year 2, adjustment for Eastport Rentals in the accounting equation. Complete this question by entering your answers in the tabs below. Required A Required B Record the deferral and the related December 31, Year 2, adjustment for Stokes Company in the accounting equation. (Do not round intermediate calculations and round your final answers to nearest whole dollar. Enter any decreases to account balances with a minus sign.) STOKES COMPANY Accounting Equation - Year 2 Assets Liabilities Cash Prepaid Rent + Stockholders' Equity Common Retained Stock Earnings Event = + = + Paid 12 months rent Adjustment for 4 months used = + Required A Required B On April 1, Year 2, Maine Corporation paid $8,700 cash in advance for a one-year lease on an office building. Assume that Maine records the prepaid rent as an asset and that the books are closed on December 31. Required a. Show the payment for the one-year lease and the related adjusting entry to recognize rent expense in the accounting equation. (Not all cells require input. Do not round intermediate calculations. Enter any decreases to account balances with a minus sign.) MAINE CORPORATION Accounting Equation Year 2 Assets Prepaid Cash Rent = Event Stockholders' Equity Common Retained Stock Earnings Paid rent in advance = Adjusting rent expense Totals 0 0 = 0 0