Current Attempt in Progress 1. 2. Concord Games Inc adjusts its accounts annually. The following information is available for the year ended December 31, 2022. Purchased a 1-year insurance policy on June 1 for $1,440 cash. Paid $5,200 on August 31 for 5 months' rent in advance. On September 4, received $2,880 cash in advance from a corporation to sponsor a game each month for a total of 9 months for the most improved students at a local school Signed a contract for cleaning services starting December 1 for $800 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.) On December 5, received $1,200 in advance from a gaming club. Determined that on December 31, $380 of these games had not yet been played. 3. 4 5. For each of the above transactions, prepare the journal entry to record the initial transaction. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit 1. 2. 3. 4 5. For each of the above transactions, prepare the adjusting journal entry that is required on December 31. (Hint: Use the account Service Revenue for item 3 and Maintenance and Repairs Expense for item 4.) (Round answers to decimal places, eg: 5,275. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit occount titles are automatically Indented when the amount is entered. Do not indent manually) No. Date Account Titles and Explanation Debit Credit Dec. 1. 31, 2022 2 Dec. 31, 2022 3. Dec. 31, 2022 4. Dec. 31, 2022 5. Dec. 31, 2022 Post the journal entries in parts (a) and (b) to T-accounts and determine the final balance in each account balance. (Note: Posting to the Cash account is not required.) (Round answers to decimal places, eg. 5,275. Post entries in the order displayed in the problem statement.) Prepaid Insurance Prepaid Rent Unearned Service Revenue Prepaid Cleaning Insurance Expense Rent Expense ITIN Service Revenue Maintenance and Repairs Expense