Previous Page Next Page Page 27 of 44 Question 27 (4 points) The balance in the prepaid rent account before adjustment at the end of the year is $12,000 and represents three months rent paid on December 1. The adjusting entry required on December 31 is: ( a) debit Prepaid Rent, $4,000; credit Rent Expense $4,000. O b) debit Prepaid Rent, $8,000; credit Rent Expense, $8,000. O'c) debit Rent Expense, $4,000; credit Prepaid Rent, $4,000. ( d) debit Rent Expense, $12,000; credit Prepaid Rent, $12,000. Previous Page Next Page