The balance in the prepaid rent account before adjustment at the end of the year is $12,336, which represents 12 months' rent paid on December 1. The adjusting entry required on December 31 is Oa, dobit Prepaid Rent $11.308, credit Rent Expenor. 51,028 Ob. debit Rent Expense. $11.308. credit Prepaid Rent $1,028 Oc. debit Rent Expente, 51.028. credit Prepaid Rent 51,020 Od debit Prepaid Rent 51.028, credit Rent Expense. $1,028