QUESTION 7 On January 1 of 2021, Trantor Company sent a $16,000 check to its landlord to pay 16 months rent in advance. Trantor booked this transaction by increasing prepaid rent in its accounting records What will the balance of rent expense be after Trantor Company posts adjusting entries on December 31, 2021? a $4,000 b. $12.000 c. $1,000 d. 516,000 QUESTION 8 On January 1 of 2021. Trantor Company sent a $16,000 check to its landlord to pay 16 months rent in advance. Trantor booked this transaction by increasing prepaid rent in its accounting records What is the amount of the adjusting entry that Trantor Company must record to bring the rent accounts up-to-date of December 31, 2021? a $16.000 b. $1,000 C. $12,000 Od 54,000 QUESTION 9 On January 1 of 2021. Trantor Company sent a $16,000 check to its landlord to pay 16 months rent in advance. Trantor booked this transaction by increasing prepaid rent in its accounting records. Which of the following will Trantor Company present on its balance sheet at December 31, 2021? a. Prepaid Rent with a balance of $12,000 b. Rent Expense with a balance of $12,000 c. Rent Expense with a balance of $4,000 d. Prepaid Rent with a balance of $4,000