1- Prepare journal entries for the following transactions. Then indicate the effect (+ or -) of the journal entry on the accounting equation. Use the table on the following page March 1: The XYZ Company signed a 6 month rent of a building, which is effective Marchl. XYZ Company prepaid the full amount of the 6 months rent for S24,000. 2. March 1: XYZ Company lends S400,000 to ABC Company at an interest rate of 12% for 2 months. Principal and interest will be received at the end of two months 3. March 2: XYZ Company received $6000 from its customers, and agreed to provide services for the next 2 months (including this month). + March 30: XYZ Company received its utilities bill of $100, which will be paid April 10. ACCOUNT NAME Druty 1 March 1- March 2 Much 30 March 2. Prepare the adjusting journal entries to record for each of the situations below: Adjusting entry 1: Record the adjusting entry related to rent (in the transaction) on March 31. Adjusting entry 2: Record the adjusting entry related to note receivable in the transaction) on March 31. Adjusting entry 3: XYZ Company provided its customers with services for the month of March. Record the related adjusting entry for the month ended March 31. 3. Record the journal entry related to the payment of utilities on April 10. 4- Record the journal entry on April 30 when ABC repays the principal and interest. ACCOUNT NAME DEBIT CREDIT Asses-Labines Equity March Man 2. Prepare the adjusting journal entries to record for cach of the situations below: Adjusting entry 1: Record the adjusting entry related to rent in the fransaction) on March 31. Adjusting entry 2: Record the adjusting entry related to note receivable in the 2" transaction) on March 31. Adjusting entry 3: XYZ Company provided its customers with services for the month of March. Record the related adjusting entry for the month ended March 31. 3- Record the journal entry related to the payment of utilities on April 10. 4. Record the journal entry on April 30 when ABC repays the principal and interest. ACCOUNT NAME DENTRO 10-April per 5-What is the balance of cash at the end of April 30 knowing that the balance on February 28 was $500,000. (Use the T account). 6-What are the impacts of not recording the adjusting entry N 2 on net income and total assets (determine the amount)