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1. Lessky Construction received an advance from a customer on work yet to be completed. The details are as follows: 4 marks Date advance received

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1. Lessky Construction received an advance from a customer on work yet to be completed. The details are as follows: 4 marks Date advance received from customer August 25, 2020 $$ Amount received $ 96,000 Lessky's year end date November 30, 2020 $$ Work completed by Lessky's year end $ 32,729 REQUIRED: a) Prepare the journal entry for the cash advance received from the customer. b) Prepare the adjusting journal entry required at Lessky's year end. c) What is the liability amount remaining on Lessky's balance sheet at the company's year-end date

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