On January $31,20x3,$ a company prepaid the $72,000$ rental fee for a parking lot it leases. The rental fee covered a $3-$year period beginning February $1,203.$ What is the effect of this transaction on the December $31,203$ financial statements for each of the following?

A

Current Expenses $=0$

Prepaid Expenses $=72,000$

B

Current Expenses $=22,000$

Prepaid Expenses $=50,000$

C

Current Expenses $=24,000$

Prepaid Expenses $=48,000$

D

Current Expenses $=72,000$

Prepaid Expenses $=0$