Exercise 3-5 Preparing adjusting entries (annual)-unearned revenue LO4 Splish Splash Art is a centre that offers children's music and dance lessons. Splish Splash prepares annual financial statements and has a December 31, 2017, year-end. a. On September 1, Splish Spash Art collects $15,000 cash for dance lessons running from September 1, 2017 to December 31, 2017 performance stage for the full month of December 2017 and January 2018. The lessons run from October 1, 2017 to January 31, 2018. b. On October 1, Splish Splash Art collects $5,000 cash ($2,500 per month) to rent its c. On October 1, 2017, Splish Splash Art collects $8,000 cash for four months of music lessons Required For each transaction, record the initial journal entry and the adjusting entry req December 31, 2017 uired on