Calculator View Instructions Question No: 03 This is a subjective question, hence you have to write your answer in the Text-Field given below. Given the following financial transactions, you are required to pass ONLY the adjusting entries at the time of preparing the financial statements. The financial statements are prepared at the end of every quarter. Assume that your company undertakes the following transaction on 01st of January month. You are required to pass all relevant journal adjusting entries for the below transactions at the end of first quarter (a) The company receives advance rent of Rs24,000 from XX company for using the building for the next 12 months. (b) The company purchases machine by making cash payment of Rs 200,000 upfront. The machine will be completely depreciated over the next 10 years and the firm wil charpe equal annual depreciation expense every year. (c) The company borrows Rs240,000 at 8% annual coupon (interest cost) for 5 years. The annual coupon payments will be made after the end of every year for the next 5 years. (d) The company receives cash in advance R$ 120,000 from another company for the services to be delivered during the year At the end of the first quarter the company provided one-fourth of the total services promised [12M)