S3-4 (similar to) E Question Help Home Furniture Store's Prepaid rent balance is $9,000 on October 1. This prepaid rent represents twelve months' rent. Journalize and post the adjusting entry on October 31 to record one month's rent. Compute the balances of the two accounts involved on October 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 Oct 31 Rent expense Prepaid rent