Happy Company signed a two-year lease on July 1, 2019, and paid the $34,800 total rent in advance. Happy recorded the transaction as a debit to Prepaid Rent and a credit to Cash.
What adjusting entry should Happy make on December 31, 2019 (no previous adjustment has been made) ?
A) 
B) 
C) 
D) 
Correct Answer:
Verified
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