X Company received $3600 in advance to rent an equipment for on year starting Nov.1, 2020 (monthly rent is $300), what is the adjusting entry should be prepared on Dec.31, 2020? a. Debit Unearned Rent $300 and Credit Rent Rev. $300. b. Debit Rent Exp. $600 and Credit Prepaid Rent $600. Debit Rent Exp. $300 and Credit Prepaid Rent $300. d. Debit Unearned Rent $600 and Credit Rent Rev. $600