*Exercise 4-17 Action Quest Games Inc. adjusts its accounts anniually. The following information is available for the year ended December 31, 2017. 1. 2. Purchased a 1-year insurance policy on June 1 for $1,200 cash. Paid $5,000 on August 31 for 5 months' rent in advance. On September 4, received $4,140 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. Signed a contract for cleaning services starting December 1 for $950 per month. Paid for the first 2 4. months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.) On December 5, received $1,450 in advance from a gaming club. Determined that on December 31, 5. $550 of these games had not yet been played e transactions, prepare the journal entry to record the initial transaction. (If no ent enter O for the amounts. Credit accoun is required, select "No titles are o Entry" for the account titles and automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 2. 4. 5. For each of the above transactions, prepare the adjusting journal entry that is required on Decemb (Hint: Use the account Service Revenue for item 3 and Repairs and Maintenance Expense for item (Round answers to 0 decimal places, e.g. 5,275. If no entry is required, select "No Entry the account titles and enter 0 for the amounts. Credit account titles are automatically in vhen the amount is entered. Do not indent manually.) Debit Credit No. Date Account Titles and Explanation . Dec. 31, 2017