View Policies Current Attempt in Progress The balance in the Prepaid Rent account before adjustment at the end of the year is $25500, which represents three months' rent paid on December 1. The adjusting entry required on December 31 is to debit Rent Expense, $17000; credit Prepaid Rent $17000. debit Rent Expense, $8500; credit Prepaid Rent, $8500. debit Prepaid Rent, $17000; credit Rent Expense. $17000. debit Prepaid Rent, $8500; credit Rent Expense, $8500. e Textbook and Media