On October 1,2012,Water Works paid $3,600 for 6 months' rent in advance.The appropriate journal entry was made at the time using Prepaid Rent.No other journal entry has been made.As of December 31,2012,Water Works should
A) debit Rent Expense and credit Prepaid Rent for $1,200.
B) debit Rent Expense and credit Prepaid Rent for $1,800.
C) debit Prepaid Rent and credit Rent Expense for $1,800.
D) debit Prepaid Rent and credit Rent Expense for $1,200.
E) No journal entry is necessary as of December 31,20X9.
Correct Answer:
Verified
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