10. The company Bubble Inc. has designed its accounting system in a way that registers many payments as expenses and many cash collections as revenues. Therefore, at the end of the period the company reviews the accounts to make corrections to the expenses and revenues registered and defer those that were not incurred or earned during the period. What should the company do in each of these situations that correspond to the annual reporting period 2013? (we do not consider VAT in this exercise). a) At June 1 pays 1200 of an insurance, which coverage period is one year since payment. The company accounting system has registered the following entry: Date Accounts Debit Credit June 1 Insurance expense (SE-, Exp) 1200 Cash (A-) 1200 b) At December 1 receives 3000 cash that corresponds to the December, January and February rent of a property. The company accounting system has registered the following entry: Date Accounts Debit Credit Dec 1 Cash (A+) 3000 Rent income (SE+, Rev) 3000 c) At October 1 the company pays 1200 of interests of a financial operation. The payment corresponds to the interests incurred from 1-10-2013 to 1-10-2014. The company accounting system has registered the following entry: Date Accounts Debit Credit Oct 1 Interests expense (SE-, Exp) 1200 Cash (A-) 1200