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The Mickey company closes the financial book each year at the end of December. On...

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Accounting

The Mickey company closes the financial book each year at the end of December. On September 1, Prepaid Rent was debited for $3,000 for one year of rent, paid in advance. The adjusting entry on December 31 will involve a:

Question 4 options:

a. debit to Rent Payable for $2,000

b. debit to Rent Expense for $2,000

c. debit to Rent Expense for $1,000

d. debit to Rent Payable for $1,000

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