Exercise 3-17 (Part Level Submission) At Cambridge Company, prepayments are debited to expense when paid, and unearned revenues are credited to revenue when cash is received. During January of the current year, the following transactions occurred. Jan. 2 Paid $3,600 for fire insurance protection for the year. 10 Paid $2,400 for supplies. 15 Received $5,700 for services to be performed in the future. On January 31, it is determined that $2,100 of the services were performed and that there are $800 of supplies on hand.

Journalize and post the January transactions. (Use T-accounts.)