Score: 0 of 8 pts 16 of 19 (14 complete) HW Score: 57.25%, 58.4 of 102 pts S3-7 (similar to) Question Help O Answer the following questions about prepaid expenses: a. On December 1, Air and Sea Tree Service prepaid $5,400 for six months" rent. Give the adjusting entry to record rent expense at December 31. Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at December 31. Air and Sea adjusts the accounts only at December 31, the end of its fiscal year. b. On December 1, Air and Sea Tree Service paid S950 for supplies. At December 31, Air and Sea has $600 of supplies on hand. Make the required journal entry at December 31. Then post all amounts to the accounts and show their balances at December 31. Assume no beginning balance in supplies. a. On December 1, Air and Sea Tree Service prepaid SS,400 for six months' rent. Give the adjusting entry to record rent expense at December 31. Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at December 31. Air and Sea adjusts the accounts only at December 31, the end of ils fiscal year. Prepare the adjusting journal entry to record the rent expense at December 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journal Entry Date Accounts and Explanations Debit Credit Dec 31