Exercise 3-15 - (Part Level Submission) Pharoah Compa w adjust its accounts annually. The following information is available for the year ended December 31, 2020, 1. Purchased a 1-year insurance policy on June 1 for $1,440 cash. 2. Pald $5,800 on August 31 for 5 months' rent in advance. 3. On Septen ber 4, recoved $4,230 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 $950 per month. Pald for the first 2 months on November 30. (Hint: use the account Prepaid Cleaning to record prepayments.) 5. On December 5, received $1,400 in advance from a gaming club. Determined that on December 31, $350 of these games had not yet been played. Your anwer is partially correct. Try again. For each of the above transactions, prepare the journal entry to record the initial transaction. (Credit account titles are automatically indented when the amount is entered. Dc notIndent manually.) Date Account Titles and Explanation Credit 1. Tune 1, 2020 Insurance Expense Prepaid Insurance 2. Aug 31 2020 - Rent Expense No. Date Account Titles and Explanation Debit Credit 1. June 1, 2020 Insurance Expense 840 Prepaid Insurance 840 2. Aug. 31, 2020 Rent Expense 1 4,640 | Prepaid Rent 3. Sept. 4, 2020 Tuneared Service Revenue 1,880 Service Revenue 1,880 Nov. 30, 2020 - TMaintenance and Repairs Expense 950 | Prepaid Cleaning funeamed Service Revenue Dec. 5, 2020 Service Revenue 1,050