X Co paid cash of $12,000 on 1/6/ 2020 for one year's rent in advance and recorded the transaction with a debit to prepaid Rent expenses. The 31/12/ 2020 adjusting entry is? Select one: O a. debit Prepaid Rent and credit Rent Expense, $5,000 O b. debit Prepaid Rent and credit Rent Expense, $7,000 O C. debit Rent Expense and credit Prepaid Rent, $7,000. O d. debit Prepaid Rent and credit Cash, $5,000