Garcia Company had the following selected transactions during the year. Jan. The company paid $6,000 for 12 months of Insurance coverage beginnine imediately out the company received $2,400 cash in advance for 6 months of contracted services beginning on august 1 and ending on January Dec 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 of revenue received in a lability account 3. . Record journal entries for these transactions assuming Garcia follows the alternative practice of recording a prepayment of an expense in an expense account and recording a prepayment of revenue received in a revenue account. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the advance cash payment of insurance. Note: Enter debits before credits Date General Journal Debit Credit Jan 01 Record entry Clear entry View general Journal Journal entry worksheet Record the adjusting entry required for insurance. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry Clear entry View general Journal Journal entry worksheet 1 2 3 Record the adjusting entry required for services provided. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry Clear entry View general journal