Case 2. Suppose you are the accountant of Al Hosni Group, the Company has consulting project with a large client Sohar Transport, the client billed OMR 90000 to Oman Cable for the year 2019. Since the agreement only allows for billing at the end of the project. The payment received for the year 2019 was only OMR 26000. The balance OMR 64000 will be received in 2020. What is the accounting treatments in 2019? Answer the following Questions (1 mark each) a. Name the adjusting entry related to this transaction and pass entry to record the transaction? b. How will you define this adjusting entry in a single sentence? c. Which accounting concept is most applicable to this adjusting entry? d. How this amount is to be shown in balance sheet/ Income statement c. How it will affect the financial statements if this entry is not passed