Exercin 4-16 Action Quest Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31, 2017 1. Purchased a 1-year insurance policy on June 1 for $1,200 cash. 2. Paid $6,800 on August 31 for 5 months' rent in advance. 3. On September 4, received $2.500 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 4. Signed a contract for deaning services starting December 1 for $850 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.) 5. On December 5, received $1,450 in advance from a gaming dub. Determined that on December 31, $500 of these games had not yet been played Record each of the above transactions in the tabular summary that follows. (If a transaction results in a decrease in Assets, Esabilities or Stockholders' Equity, place a negative sign (or par the particular Asset, Liability or Equity item that was reduced.) Liabilities Pred Stockholders' Equity Retard taming Rew Exp contengo un D iv 2017 June 1 Rug. 31 Dec. 5 For each of the above transactions, record the adjustment that is required on December 31 in the summary from part(s) (Hint: Use the account Service Revenue for tem 3 and Repairs and Maint results in a decrease in Assets, Liabilities or stockholders Equity place a negative sig for parentheses) in front of the amount entered for the particular Asset, Libility or guilty item Stockholders' Equity Pred. - Selv, Rev