1) Hamza is a landscaper who requires that his clients pay him in advance of landscaping services rendered. Hamza routinely credits Unearned Revenue when his clients pay him in advance. In June, Hamza collected $10000 in advance fees and completed 70% of the work related to these fees. What adjusting entry is required by Hamza's firm at the end of June?

2) On August 1, Gary purchased a car insurance policy for $3000 coverage for one year. The entire $3000 was charged to Insurance Expense when it was purchased. Prepare the adjusting entry on December 31, if the firm prepares annual financial statements.