*Exercise 4-16 Action Quest Games Inc. adjusts its accounts annually. The following information is available for the year ended December: , 2017 1. Purchased a 1-year insurance policy on June 1 tor $2.040 cash. Paid 55,900 on August 31 for 5 months rent in advance. received $2,880 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. On September November (Hint: Use the account Prepaid Cleaning to record prepayments.) 5igned a contract for cleaning services starting December 1 for $800 per mont Paid ror the Tirst men receive 550 in advance f termined .... yet been played. gaming o games front of the amount Record each of the above transactions in the tabular summary that follows. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) entered for the particular Asset, Liability or Equity item that was reduced.) = Liabilitiess + Assets Stockholders' Equity Retained Earmings Prepd. Clean Prepd. Prepd. Rent Unearned Com. Stock Cash 2017 Insur Serv. Rev Rev Exp Div + June 1 Aug. 31 Sept. 4 Nov. 30 Dec. 5 transaction results in a decrease in Assets. Liabilities or Stockholders Eauity, place a ncgative sign (or narenthesesl in front of the amount entercd for the particular Asset. Liability or Fauity item that was reduced,) Liabilities + Stockholders' Fquity Assets Retained Earmings Prepa um. Con Bou Exp. Cash 2017 Rev Div Dec. 31 Dec. 31 Dec. 31 Dec. 31 Dec. 31