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Suppose a company rents office space for one year, paying $27.000 (52.250/month) in advance on September 1. Record the adjusting entry on December 31. (If

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Suppose a company rents office space for one year, paying $27.000 (52.250/month) in advance on September 1. Record the adjusting entry on December 31. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list View journal entry worksheet General Journal Credit No 1 Date December 31 Debit 9,000 Rent expense Prepaid rent 9,000

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