On July 1,2012,Norton Company Paid $2,400 for Rent on the Building

Multiple Choice

On July 1,2012,Norton Company paid $2,400 for rent on the building it occupies.This rent payment is for the 3-month period of July 1 to September 30,2012.Which of the following is the journal entry to be made on July 1,2012?

A) $\begin{array}{lll}\text { } & \mathrm{Dr.}& \mathrm{Cr.}\\\text {Rent Expense } & 2,400 & \\\text { Prepaid Rent } & &2,400\\\end{array}$

B) $\begin{array}{lll}\text { } & \mathrm{Dr.}& \mathrm{Cr.}\\\text { Cash } & 2,400 & \\\text { Rent Expense} & &2,400\\\end{array}$

C) $\begin{array}{lccc}\text { } & \mathrm{Dr.}& \mathrm{Cr.}\\\text {Prepaid Rent } & 2,400 & \\\text { Cash } & &2,400\\\end{array}$

D) $\begin{array}{lccc}\text { } & \mathrm{Dr.}& \mathrm{Cr.}\\\text { Cash } & 2,400 & \\\text { Prepaid Rent } & &2,400\\\end{array}$

E) $\begin{array}{lccc}\text { } & \mathrm{Dr.}& \mathrm{Cr.}\\\text {Prepaid Rent } & 2,400 & \\\text { Rent Expense } & &2,400\\\end{array}$