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4) On July 1, Year 1, Gibbs inc. paid a full 12 months of rent on warehouse space costing $1,500 per month. The company's fiscal year ends on September 30, and Gibbs recorded the full 12 months as rent expense in Year 1. The adjustment to correct Gibbs' Year 1 journal entry will include: An increase in assets of $4,500. A decrease in expenses of $4,500 An increase in expenses of $9,000 An increase in assets of $13,500