ALAMMouncements Exercise 3-15 Whispering Winds Corp. adjusts its accounts aneually. The following information is avalable for the year ended December 31, 2019. 1. Purchased a 1-year insurance policy on June 1 for $1.200 cash Paid $6,800 on August 31 for 5 months rent in advance. 2. 3. On September 4, recelved $2,880 cash in advance from a corporation to sponsor a game each month for a total of 9 months for the most improved students at a local school. 4. Signed a contract for cleaning services starting December 1 for s850 per month Paid for the frst 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments) 5. On December 5, received $1,450 in advance from a gaming dub. Determined that on December 31, $500 of these games had not yet been played. For each of the above transactions, prepare the journal entry to record the initial transaction. (Credit account titles are automatically indented when the amount is entered Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. 3. 5 SHOW LIST OF ACCOUNTS For each of the above transactions, prepare the adjusting journal entry that is required on December 31. (Hint: Use the account Service Revenue for item 3 and Repairs and Maintenance Expense for item 4) (Credit acce amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation No. 1 Dec. 31, 2019 ere to search