Aquafina is a scuba diving and instruction company. The following are the Opening balances of the accounts: Cash: $25,000 Accounts receivable: $4,500 Prepaid Insurance: 0 Following transactions took place in December.

1. On December 1st ,new customers paid Aquafina $8,200 in cash for diving trips: $5,200 was for trips to be made in December and the rest is for trips that will be made in January. Record the journal entry on Dec 1

2. On December 15th, Customers paid $3,900 in cash for the instruction they received in November

3. On December 1st, Aquafina paid a total of $6,000 cash for insurance to cover the months of December, January

   and February. Record the journal entry on Dec 1

4. On December 31st Aquafina paid $4,000 in salaries to employees who worked in December.

Required: Analyze and record the journal entries for each of the December transactions of Aquafina Inc.

Record adjusting entries for 1 & 3 on December 31st

Prepare Cash T account and Prepaid Insurance T account