Assignment 2 (Ch 4 3 The following events occurred for a company during the last two months of its fiscal year ended December 31, 2020: 15 pi Nov. 1 Paid $3,600 for future newspaper advertising. 1 06.960 for isaranon through Oetker ji of the following year. 30 Received 5,900 for future service to be provided to a customer. Dec. 1 Paid $4,400 for the services of a consultant, to be received over the next three months. 15 Maceived 11,400 for future services to be provided to a customer. 31 of the advertising paid for on November 1. $1,710 worth had not yet been published by the navapaper. 31 Part of the insurance paid for on November 1 had expired 31 Services worth $1,300 had not yet been provided to the customer who paid on November 30. One-third of the consulting services paid for on December 1 had been received 3 The company had performed 02,400 of the services that the customer had paid for on December 15. . Prir Required: 1. Prepare the November and December entries for the above activities under the approach that records prepaid expenses as assets and records unearned revenues as labilities. Also, prepare adjusting entries at the end of the year. (Do not round Intermediate calculations.) ferences View transaction list X + Record the amount paid for future advertising 10 2 Record the paid insurance for one year Record the received fees in advance Record the amount paid for future consulting 5 Record the received fees in advance Credit Record the expense amount for advertising 7 Record the entry to adjust prepaid insurance Record the entry to adjust uncanned service fees. Note journal entry has been entered Record entry Clear entry View general Journal 3 Nov. I paid $3,800 for future newspaper advertising. 1 Pald $6,960 for Insurance through Oetober 31 of the following year. 30 Received $5,900 for future services to be provided to a customer Dec. 1 Paid $4,800 for the services of a consultant, to be received over the next three months. 15 Received 11,400 for future services to be provided to a customer. 31 of the advertising paid for on November 1, $1,710 worth had not yet been published by the newspaper. 31 Part of the insurance paid for on November 1 had expired. 31 Services worth $1,300 had not yet been provided to the customer who paid on November 30. 31 One-third of the consulting mervices paid for on December 1 had been received. 31 The company has performed $2,400 of the services that the customer had paid for on December 15. Required: 1. Prepare the November and December entries for the above activities under the approach that records prepaid expenses as assets and records uneamed revenues as liabilities. Also, prepare adjusting entries at the end of the year. (Do not round Intermediate calculations.) View transaction lit nes X 3 Record the received foes in advance 10 > * Record the amount paid for future consulting 5 Record the received fees in advance 6 Record the expense amount for advertising 7 Record the entry to adjust prepaid Insurance Credit Record the entry to adjust unearned service fens. Record the entry to adjust prepaid consulting fees 10 Record the entry to adjust unearned service fons. - Journal entry has been entered Note: Record entry Clear entry View general journal 2. Prepare the November and December entries under the approach that records prepaid expenses as expenses and records unearned revenues as revenues. Also, prepare adjusting entries at the end of the year. (Do not round Intermediate calculations.) View transaction list X 1 Record the amount paid for future advertising. 10 2 Record the paid insurance amount for one year, 3 Record the received fees in advance. + Record the amount paid for future consulting 5 Record the received fees in advance. Credit 6 Record the entry to adjust for prepaid advertising. 7 Record the entry to adjust for prepaid Insurance. & Record the entry to adjust for neamed service fees - Journal entry has been entered Note Record entry Clear entry View general Journal BOD 2. Prepare the November and December entries under the approach that records prepaid expenses as expenses and records unearned revenues as revenues. Also, prepare adjusting entries at the end of the year. (Do not round Intermediate calculations.) Print View transaction list 10 Record the received fees in advance. * Record the amount paid for future consulting 5 Record the receved fees in advance. 6 Record the entry to adjust for prepaid advertising. 7 Racord the entry to adjust for preved insurance, Credit B Record the entry to adjust for uneamed service fees. 9 Record the entry to adjust for prepaid consulting fees. 10 Record the entry to adjust for uneared service fees Note - Journal entry has been entered Record entry Clear entry View general Journal Gw