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1. Prepare adjusting entries for the following transactions: i. Prepaid commission account has a $16,000 debit balance to start the year. A review of the

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1. Prepare adjusting entries for the following transactions: i. Prepaid commission account has a $16,000 debit balance to start the year. A review of the accounts payments shows $ 4,500 of unexpired commission remains at year-end. ii. On March 1, a customer paid $10,000 cash for 5 months computer maintenance charges in advance and it was credited to the unearned service revenue account. As on May 31, the company has earned 3 months of the advance charges received Account title and explanation Dr. Date of the transaction Cr

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