5,3-6 Penny's Pool Service & Supply, Inc. (PPSS) had the following transactions related to operating the business in its first year's busiest quarter ended September 30: a. Placed and paid for $2,510 in advertisements with several area newspapers (including the online versions), all of which ran in the newspapers during the quarter. b. Cleaned pools for customers for $16,200, receiving $6,900 in cash with the rest owed by customers who will pay when billed in October. c. Pald Pool Corporation, Inc., a pool supply wholesaler, $18,500 for Inventory received by PPSS in May. d. As an incentive to maintain customer loyalty, PPSS offered customers a discount for prepaying next year's pool cleaning service. PPSS received $17,900 from customers who took advantage of the discount. e. Paid the office receptionist $4,400, with $1,320 owed from work in the prior quarter and the rest from work in the current quarter. Last quarter's amount was recorded as an expense and a liability. Wages Payable. f. Had the company van repaired, paying $120 to the mechanic. g. Pald $190 for phone, water, and electric utilities used during the quarter. h. Received $170 cash in interest earned during the current quarter on short-term investments. 1. Received a property tax bill for $240 for use of the land and building in the quarter; the bill will be paid next quarter. J. Paid $960 for the next quarter's Insurance coverage. Required: 1. Prepare journal entries for above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Required: 1. Prepare journal entries for above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction Answer is not complete. General Journal 1 a Advertising expense 2 b. Accounts receivable Cash Debit Credit 2,510 2,510 6,900 16,200 2. Based only on these quarterly transactions, prepare a classified income statement (with income from operations determined separately from other items) for the quarter ended September 30 Answer is not complete. PENNY'S POOL SERVICE & SUPPLY INC you have completed so far. It does not indicate 7 8.66 points 2. Based only on these quarterly transactions, prepare a classified income statement (with income from operations determined separately from other items) for the quarter ended September 30. Answer is not complete. PENNY'S POOL SERVICE & SUPPLY, INC. Income Statement (unadjusted) For the Quarter Ended September 30 Operating expenses Total operating expens 0 Other do