Description Instructions Assessment Instructions Multiple Attempts Not allowed. This test can only be taken once. Force Completion This test can be saved and resumed later. Question Completion Status: QUESTION 1 1. On September 1, 2018, Real Estate Professionals Company paid $5,000 in advance for an eight-month rental space covering the period of September 1, 2018 through April 30, 2019. The deferred expense was initially recorded as an asset. The company makes adjusting entries once a year at year-end. The adjusting entry on December 31, 2018 would include a debit of $5,000 to Cash credit of $5,000 to Prepaid Rent debit of $2,500 to Rent Expense credit of $2,500 to Rent Expense 5 points