Exercise 4-16 Action Quest Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31, 2017 1 Purchased a 1-year insurance policy on June 1 for $1,680 cash 2. Paid $5,000 on August 31 for 5 months' rent in advance. 3. On September 4, received $3,780 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. 4. Signed a contract for cleaning services starting December 1 for $850 per month. Paid 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, $600 of these games had not yet been played. 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) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities+ Stockholders' Equity Com. Cash Insur. +Rent Clean. Serv. Rev.+Stock Retained Eamings Exp. Prepd. Prepd. Prepd. 2017 June 1 Aug. 31 Sept. 4 Nov. 30 Dec. 5 Rev Div For each of the above transactions, record the adjustment that is required on December 31 in the tabular summary from part (a). (Hint: Use the account Service Revenue for item 3 and Repairs and Maintenance Expense for item 4.) (If a transaction results in a decrease in Assets, Liabilities or Stockholders Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities + Stockholders' Equity Prepd. Cash Insur. Rent Retained Eamings - Exp. Prepd. Prepd. Clean.Serv. Rev. +StockRev Com. Div Dec. 31 Dec. 31 Dec. 31 Dec. 31 Dec. 31 SHOW LIST OF ACCOUNTS LINK TO TEXT Question Attempts: 0 of 3 usedSAVE FOR LATER SUBMITA