Question S3-4 (book/static) Julie's Flower Shop's Prepaid rent balance is $4,500 on July 1. This prepaid rent represents six months' rent. Journalize and post the adjust July 31 to record one month's rent. Compute the balances of the two accounts involved on July 31. Journalize the adjusting entry for one month's rent. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit July 31 Rent expense Prepaid rent 750 750 Post the adjusting entry to the T-accounts below, and then calculate the ending balances (using a "Bal" posting reference) of the accounts The beginning balance of Prepaid rent has been entered for you. Prepaid rent Rent expense July 4,500 July 31 July 31 Bal 3750 Bal July 31 750 750 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All Final Chec Journalize the adjusting entry for one month's rent. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit 31 Rent expense 750 Prepaid rent 750 July Post the adjusting entry to the T-accounts below and then calculate the ending balances (using a "Bal" posting reference) of the accounts at July 31 The beginning balance of Prepaid rent has been entered for you Prepaid rent Rent expense July 1 4.500 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All Final Check