Question 28 (1 point) On November 1, 20X1, Peaches Consulting Service paid $4,800 for 12 months of advance rent on its office space. The correct adjusting entry on December 31, 20X1, to show the amount of rent that had expired would include: debit Rent Expense $400; credit Prepaid Rent $400 debit Rent Expense $800; credit Prepaid Rent $800 debit Prepaid Rent $400; credit Rent Expense $400 debit Prepaid Rent $800; Credit Rent Expense $800