Indicate how the following transaction should be recorded: Recorded expired portion of prepaid rent, $700. a. Decrease Office Building, $700; Decrease Retained Earnings with Rent Expense, $700. b. Decrease Prepaid Rent, $700; Decrease Retained Earnings with Rent Expense, $700. c. Decrease Cash, $700; Decrease Retained Earnings with Rent Expense, $700. Increase Prepaid Rent, $700;
d. Increase Retained Earnings with Rent Expense, $700.