On July 1, 2020, Croft Inc. Paid rent for office space in advance in the amount of $36,000 for 12 months. Question: What is the adjusting entry on July 31? O Debit Rent Expense and Credit Accounts Payable for $36,000 Debit Rent Expense and Credit Prepaid Rent for $3,000 Debit Prepaid Rent and Credit Cash for $36,000 O Debit Unearned Rent and Credit Rent Income for $3,000