2 Cedar Rental is an car rental service located in lowa. Cedar Rental rents a vehicle to a customer for three months on November 1. The customer pays Cedar Rental a total of $6,000 ($2,000/ month). Required: 16.66 points X 03:53:26 1.& 2. Record the necessary entries in the Journal Entry Worksheet below. 3. Calculate the year-end adjusted balances of the Deferred Revenue and Service Revenue accounts (assuming the balance of Deferred Revenue at the beginning of the year is $0). eBook Complete this question by entering your answers in the tabs below. Print Required 1 and 2 Required 3 Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) References View transaction list Journal entry worksheet Record the vehicle rental from Cedar Rental on November 1. Note: Enter debits before credits Date General Journal Debit Credit November 01 Record entry Clear entry View general Journal (Required 1 and 2 Required 3 > Required 1 and 2 Required 3 Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record adjusting entry on December 31. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Record entry Clear entry View general journal Required 1 and 2 Required 3 Calculate the year-end adjusted balances of the Deferred Revenue and Service Revenue accounts (assuming the balance of Deferred Revenue at the beginning of the year is $0). Ending Balance Deferred revenue Service revenue 4 Reliable Corporation provides computer consulting services to the local community and keeps its accounting records using cash-basis accounting. For the current year, cash was received from customers, $37,000, and cash salaries to employees were paid, $21,400. At the beginning of the year, customers owe Reliable $1,100. By the end of the year, customers owe $5,400. At the beginning of the year, Reliable owes employee salaries of $4,400. At the end of the year, Reliable owes employee salaries of $2,700. 16.66 points Determine cash-basis net income and accrual-basis net income for the current year. 03:50:43 Cash-basis net income Accrual-basis net income