A) Make the adjusting entries. Assume all adjusting entries are made at the end of April 1) Johnson company buys an insurance policy for one year on January 1 st for $4800. 2) Johnson company receives a contract for $10,000 for work it will perform in the future. at the end of April it is deemed that 2/5 th s of this work is finished 3)Johnson company has a contract to provide services with Reed Company every month on the last day for $400. They do not receive payment till the following month on the tenth day 3) Johnson company has a contract to get its office cleaned on the last day of every month for $550. They do not make payment till the 3rd of the following month B) In a seperate journal from part A make closing entries at the end of the year for accounts that require it in the journal. The date will be december 31 st Some of the account balances are Cash 40,000 A/R 20,000 Revenue 5000 Rent expense 1000 Salary expense 500 Unearned revenue 420 Drawings 350 A/P 1000