Answer:
Debit : Rent Expense $1,660
Credit : Prepaid Rent $1,660
Step-by-step explanation:
The January 31 adjusting entry for rent expense would include a Debit to Rent Expense and Credit to Prepaid Rent - Asset Account at an amount of $1,660.
Calculation :
Rent Expense = 1/12 x $19,920 = $1,660