On May 1, Boyz Security Services rented office space and paid two month's rent in advance in the amount of P8,000. The entry would be debit to prepaid rent, P8,000; credit to cash, P8,000. debit to...

Extracted text: On May 1, Boyz Security Services rented office space and paid two month's rent in advance in the amount of P8,000. The entry would be debit to prepaid rent, P8,000; credit to cash, P8,000. debit to expenses rent, P8,000; credit to cash, P8,000. debit to prepaid rent, P8,000; credit to accounts payable, P8,000. debit to expenses rent, P8.000; credit to accounts payable, P8,000.