Prepaid rent.On september 1 of the current year, the company prepaid 24000 for two years of rent for facilities being occupied that day. The company debited prepaid rent and credited cash for 24000? I got this answer wrong and want to know why?

day The company debited Prepald Rent and credited Cash for $24,000 Prepald Rent Step 1: Determine what the current account balance equala. 5 24.000 Step 2 Depemine wnat the current account balance should equal. Step 3 Record the December 31, adjusting entry to get trom step 1 to step 2 Rent Expenee Debi Prepald Rent