Fridge Jones provides classes to student to teach them accounting. Students must pay in advance before they can join the classes. On the 1st of May (the start of the new study period), Fridge received $18,000 cash from students for classes that begin in May. The classes are once a month and the first class is in May 2020. The study period is 6 months in total so the students have paid for 6 months teaching and the each class is always 4 hours long. (a) Show the journal entry at the 1st of May to record the receipt of the cash from students. Date Account Debit Credit (b) Calculate the amount of Income that should be recorded by the business on the 30th of June 2020 (show the amount below). You only need to show the dollar amount. Answer: (e) Calculate the amount of income that has not been earned yet but will be earned in the next period (show the amount below). You only need to show the dollar amount Answer: I (c) Show the journal entry needed at the 30th of June to make sure the correct amounts for the income and the liability are recorded (you need to show the adjusting entry). Date Account Debit Creditele