1 Action Quest Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31, 2017 Purchased a 1-year insurance policy on June 1 for 5 2,760 cash 2 Paid $ 6.100 on August 31 for 5 months' rent in advance On September 4, received $ 3,060 cash in advance from a corporation to sponsor a game each month for a total of 9 months for the most improved students at a local school Signed a contract for cleaning services starting December 1 tor $1,050 per month Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments) On December 5, received $1,500 in advance from a gaming club. Determined that on December 31, 5450 of these games had not yet been played. 3 4. S For each of the above transactions, prepare the journal entry to record the initial transaction. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually) ate Account Titles and Explanation Debit Credit 2017 Prepaid Insurance 2760 Cash 2760 2017 Prepaid Rent 6100 Cash 6100 2017 Cash 3060 4.2017 Cash 3060 Unearned Service Revenue 3060 30.2017 Prepaid Cleaning 2100 Cash 2100 5, 2017 Cash 1500 1500 Unearned Service Revenue For each of the above transactions, prepare the adjusting journal entry that is required on December 31. (Hint:Use the account Service Revenue for item 3 and Maintenance and Repairs Expense for item 4.) (Round answers to decimal places, eg. 5,275, If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Dec. 31, Insurance Expense Debit Credit 1 2017 Prepaid Insurance 2. Dec. 31, 2017 Rent Expense