Steenson Company uses accrual accounting. The company prepares a prepaid expense adjusting entry to adjust Prepaid Rent at the end of the current period. The company's adjusting entry requires a:

a debit to a liability and a credit to an asset.

a debit to an asset and a credit to an expense.

debit to an expense and a credit to an asset.

a debit to an asset and a credit to a liability.