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Document Layout References Mailings Review View AS MADAM ABCD ABCD AaBb CODE Heading * 1) ITV Company received $36,000 cash on March 1, 2019, from

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Document Layout References Mailings Review View AS MADAM ABCD ABCD AaBb CODE Heading * 1) ITV Company received $36,000 cash on March 1, 2019, from XYZ Company as an advance payment for services ITV promised to perform for XYZ over the next three years on a continuous basis. Assume that ITV Company's year-end is December 31. On its 2020 income statement, ITV would report revenue of 2) On October 1, Year 1, Senegal Company paid $1,200 in advance for rent of office space for one year and recorded a journal entry debiting Prepaid Rent and crediting Cash for $1,200. On December 31, Year 1, the required adjusting entry was recorded. What are the adjusted account balances at December 31, Year 1? 3) on January 1, 2020 the Supplies account had a balance of $1,200. During the year the company purchased $3,400 of Supplies for cash On December 31, 2020 Saul determined that there were $1,400 of supplies on hand. What entry should be made at December 31, 2020 to correctly record Supplies Expense incurred during the year. 4) On September 1, 2020, Saul collected $9,000 in revenue in advance from a client for advisory services for a one-year period beginning on September 1, 2020 What entry should be made at December 31, 2020 to correctly record the Service Revenue for the year 2020 5) ITV Company received $36,000 cash on March 1, 2019, from XYZ Company as an advance payment for services ITV promised to perform for XYZ over the next three years on a continuous basis. Assume that ITV Company's year-end is December 31 On its December 31, 2020 balance sheet ITV would report liabilities of 6) On October 1, 2020, the company paid $7,200 to lease office space for one year beginning immediately. On October 1, 2020, the following entry was made. DR Prepaid Rent $7,200 CR Cash $7,200 What entry should be made at December 31, 2020 to correctly record the Rent Expense incurred in the year 2020 United States) Focus MacBook Air

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