Garcia Company had the following selected transactions during the year. January 1 The company paid $9,000 cash for 12 months of insurance coverage beginning immediately. August 1 The company received $6,900 cash in advance for 6 months of contracted services beginning on August 1 and ending on January 31. December 31 The company prepared any necessary year-end adjusting entries related to insurance coverage and services performed. a. Record journal entries for these transactions assuming Garcia follows the usual practice of recording a prepayment of an expense in an asset account and recording a prepayment

debt or credit columm is needed for each transaction