The balance in the Prepaid Rent account before adjustment at the end of the year is $12,000 and represents three months rent starting on November 1. The adjusting entry required on December 31, assuming adjusting entries have not previously been made, is O debit Rent Expense, $12,000; credit Prepaid Rent. $12,000. O debit Prepaid Rent, $8.000; credit Rent Expense, $8,000. debit Prepaid Rent, $4,000: credit Rent Expense $4.000. debit Rent Expense. $8,000: credit Prepaid Rent. 58.000