Prepare the January 31 adjusting entry for rent expense. Refer to the Chart of Accounts for exact wording of account titles.

On January 2. Dog l'-'lart prepaid $30,000 rent for the year and recorded the prepayment in an asset account. Required: Prepare the January 31 aofr'ustfng entry for rent expense. Refer to the Chart of Amounts for exact wording of amount titles. Chart ofAccounts CHA RT DF ACCDU HTS Bouillon I[EvenerrzilLeqttI-per ASSETS REVENUE 11 Cash 41 Consulting Reyenue 12 Accounts Receiyable 13 Supplies EXPENSES 14 Prepaid Rent 51 Advertising Expense 15 Equipment 52 Insurance Expense 1T Accumulated DepreciationEquipment 53 REH'EEEPEHEE 54 Wages Expense LIABILITIES 55 Supplies Expense 21 Accounts Payable 56 Utilities Expense 22 Unearned Revenue 5? Depreciation Expense 23 Wages Payable 59 Miscellaneous Expense 24 Property Tax Payable Prepare the january 31 aajushg entry for rent expense. Refer to the Chart ofmunts for exact wording of amount fties