APPLY YOUR SKILLS 3-1 Please make a Journal Entry and Recurring Transaction Please make a journal entry to reallocate and expense the prepaid rent on Melanie's store and make it recurring for five months. please make a recurring transaction in advance for prepaid storage. When reallocating items like this in a journal entry, we are working with the expense amount only, with no sales tax. 1. Record the January expense, on January 31, 2026, for the store rent by creating a journal entry to reallocate one-sixth ($550) of the total prepaid store rent amount to the Rent Expense account; the prepaid amount was originally paid on January 30, 2026, for $3,300 to the Prepaid Expenses account. 2. Please make a recurring journal entry template based on the entry above to reallocate the $550 for the last day of each month for February 2026 through June 2026 for the remaining prepaid rent. Name this template Rent Allocation. 3. Please make another recurring journal entry template for the prepaid storage payment to record the expense, which was originally paid on March 22, 2026. One-third ($75) of the amount should be scheduled for the last day of each month for three months: April, May, and June. Name this template Storage Rent. Note that you are not posting the journal entry yet and are just creating the template