which of the following transactions would normally be recorded as an asset when cash is paid?

The transaction that would normally be recorded as an asset when cash is paid is "rent paid in advance." This is because rent paid in advance is a prepayment for a future benefit (use of property) and is therefore recorded as an asset until it is used up or expires. Other transactions like paying a utility bill or current month salaries are expenses, not assets, when the cash is paid. Advance payments from customers represent a liability to the business, not an asset, because the business owes goods or services in return.