B. Deferred revenues-rent On September 1. year 1, Noreen Ltd collected $75,600 in cash from its tenant as an advance rent payment on its store iocation. The slx-month lease period ends on February 28, year 2, at which time the lease contract may be renewed. Noreen's fiscal year ends on December 31 . Required: 1. Prepare, joumal entries to record the collection of rent on September 1. year 1, and the related adjustment for the amount of rent earned during year 1. (If no entry is required for a transaction/event, select "No joumal entry required" in the first account field.) Journal entry worksheet 2. If the amount recelved on September 1, year 1, had covered a period of 18 months, how should Noreen report the deferred rents amount on its statement of financial position as at December 31 , year 1 ? c. Deferred revenues-subscription fees Tremblay inc, publishes a monthly newsletter for retall marketing managers and requires its subscribers to pay $10.8 in advance for a one-year subscription. During the month of April of the current year, Tremblay Inc- sold 165 oneyear subseriptians and received payments in advance from all new subscribers. Only 70 of the new subscribers pald their foes in time to receive the April newsiottor. The other subscribers recelved the newsletter in May. Required: Prepare journal entries to record the subscription fees received in advance during April of the current yoar, and the related adjusting entry to recognize the subscription revenue earned during April of the current year. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 2 Record the receipt of one-year subscriptions from 165 customers. Notni Enter debits before creditz