Current Attempt in Progress Action Quest Games adjusts its accounts annually. Assume that any prepaid expenses are initially recorded in asset accounts. Assume that any revenue collected in advance is initially recorded as liabilities. The following information is available for the year ended December 31, 2021: 1. A $3,060 one-year insurance policy was purchased on April 1, 2021. 2. Paid $5,050 on August 31, 2021, for five months' rent in advance. 3. 4. 5. On September 27, 2021, received $3,050 cash from a corporation that sponsors games for the most improved students attending a nearby school. The $3,050 was for 10 games, worth $305 each, that are played on the first Friday of each month starting in October. (Use the Unearned Revenue account.) Signed a contract for cleaning services starting December 1, 2021, for $410 per month. Paid for the first three months on November 30, 2021. (Use Office Expense for the adjusting entry.) On December 15, 2021, sold $930 of gift certificates to a local game club. On December 31, 2021, determined that $520 of these gift certificates had not yet been redeemed. (Use the account Unearned Revenue)