Swift Company Paid $18,650 in Advance for Six Months of Rent.What

Multiple Choice

Swift Company paid $18,650 in advance for six months of rent.What journal entry will Swift prepare to record this transaction?

A) Debit Cash and credit Deferred Rent for $18,650.
B) Debit Prepaid Rent and credit Cash for $18,650.
C) Debit Cash and credit Prepaid Rent for $18,650.
D) Debit Rent Expense and credit Cash for $18,650.