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en 24 red On September 1, 2014, Joy Company paid $16,000 in advance for an 8-month rental space covering the period of September, 2014 through April, 2015. The prepaid expense was initially recorded as an asset. Joy makes adjusting entries once a year at year-end. The adjusting entry on December 31, 2014 would include a: ed out of g stion Select one: O credit of $8,000 to Prepaid Rent. O debit of $8,000 to Cash. O credit of $4,000 to Rent Expense. credit of $4,000 to Prepaid Rent. O debit of $4,000 to Rent Expense