Exercise 3-15 Sherldan Quest Games Co. adjusts ts accounts annually. The fol owing information is avaliable for the year ended December 31, 2020. 1. Purchased a 1-year insurance policy on June 1 for $2,100 cash. 2. Pald $6,300 on August 31 for 5 months' rent In advance. On September 4, received $3.420 cash in advance from a company to sponsor a game each month for a total of 9 months for the most Improved students at a local 3. school. Signed a contract for dleaning services starting December 1 for $900 per month. Pakd for the first 2 marths on November 30. (htint: Use the account Prepaid Cleaning Signed a contract for cleaning services st 4. to record prepayments.) 5. On December 5, received si1,000 In advance from a gaming club. Determ'ined that on December 31, $450 of these games had not yet been playe For each of the above transactions, prepare the journal entry to record the Initial transactien (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles Debit Credit Date une 1 Aug. 31 Sept. 4 Nov. 30 Dec. $ LINK TO TEXT n For each of the above the Maintenance Expense for item 4.) (Credit account titles are automatica e transactions, prepare the adjusting journal entry that is required on December 31, (Hint: Use the account Service Revenue for iten 3 and Repairs and ly Indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 (To record Insurance used) Dec. 31 (To record rent used) Dec. 31 To reoord revenue used) Dec. 31 To reoord maintenance) Dec. 31 To record monthly revenue) LTNK TO TEXT Post the journal entries in parts (o) and (b) to T-accounts and determine the firn al balance in each account ba'snce. (Note: Posting to the Cash account is not required.) Prepald Insurance Prepald Rent Unearned Service Revenue Prepaid Cleaning Insurance Expense Rent Expense Service Revenue Malntenance and Repairs Expense