1.RaisinsRental Agency prepares monthly financial statements. OnNovember1, a check for

P72,000was received from a tenant for six months' rent. The full amount was credited to RentRevenue.Prepare theORIGINAL ENTRYand theADJUSTING ENTRY(with explanation),the company should make onDecember 31.

2.FlinstonCompanypurchased fire-insurance good for one year on Dec. 1 amounting to 48,000. On its unadjusted trial balance, it has a Prepaid Insurance Account.Prepare theORIGINAL ENTRYand theADJUSTING ENTRY(with explanation),the company should make on December 31.

3.On December 15, 2019 OliviaEvents Coordination Company 2-bookings of wedding on Dec. 31, 2019 and January 5, 2020 each amounting to 100,000. On December 31, 2019 the ledger has the account titleUnearnedRevenue.Prepare theORIGINAL ENTRYand theADJUSTING ENTRY(with explanation),the company should make on December 31.

4.Universal Company signed aP 1,000,0002-year advertising contract withKAPS Telecommunication Company on June 1, 2015. Its unadjusted trial balance displays an expense account.Prepare theORIGINAL ENTRYand theADJUSTING ENTRY(with explanation),the company should make on December 31.