3. Prepaid rent at 1/1/10 was$20000. During 2010 rent payments of $123000 were m

3. Prepaid rent at 1/1/10 was$20000. During 2010 rent payments of $123000 were made andcharged to rent expense. The 2010 income statement shows as ageneral expense the item rent expense in the amount of $122000.You are to prepare the missing adjusting entry that must have beenmade assuming reversing entries are not made.