TB MC Qu. 03-161 (Algo) On July 1 of the current... On July 1 of the current calendar year, Olve Company paid $9200 cash for management services to be performed over a two year period beginning July 1 The adfusting entry on December 31 of the current year for Oive would include: Multiple Choice A debrito an eipense and s credit to a prepsid experve for 56,900 A debit to an experthe and a codit to a prepad espense for 52700 A debar so propsid ecience ove s ciedt we an eopente for 52300