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(4) Services performed for members for 2017 were billed to members. (5) Accounts receivable for 2017 (i.e., those billed in item [4] above) were partill collected. (b) Determine the amount of cash received by the club, with respect to member services during 2017. ac Brown Company has the following balances in selected accounts on December *E3-16 Z 31, 2017. Service Revenue Insurance Expense Supplies Expense $40,000 2,700 2,450 All the accounts have normal balances. Zac Brown Company debits prepayments to expense accounts when paid, and credits unearned revenues to revenue accounts when received. The following information below has been gathered at December 31, 2017. 1. Zac Brown Company paid $2,700 for 12 months of insurance coverage on June 1, 2017. 2. On December 1, 2017, Zac Brown Company collected $40,000 for consulting services to be performed from December 1, 2017, through March 31, 2018. 3. A count of supplies on December 31, 2017, indicates that supplies of $900 are on hand. Instructions Prepare the adjusting entries needed at December 31, 2017. E3-17 At Sekon Company, prepayments are debited to expense when paid, and unearned revenues are credited to revenue when cash is received. During January of the current vear, the following transactions occurred