Flounder AG owns a warehouse. On November 1, it rented storage space to a lessee (tenant) for 3 months for a total cash payment of 2,370 received in advance. Prepare Flounder's November 1 journal entry and the December 31 annual adjusting entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Nov. 1 Dec. 31 Account Titles and Explanation Prepaid Insurance Share Capital-Ordinary Prepaid Advertising Cash Debit Credit 2370 2370 1580 1580