Gomez Company had the following transactions in the last two months of its year ended December $31.$

References

November $1$ Paid $$1,800$ cash for future advertising.

November $1$ Paid $$2,460$ cash for $12$ months of insurance through October $31$ of the next year.

Novenber $30$ Received $$3,600$ cash for future services to be provided to a customer.

December $1$ Paid $$3,000$ cash for consulting to be received over the next three months.

Decenber $15$ Received $$7,950$ cash for future services to be provided to a customer.

Decenber $31$ of the advertising paid for on November $1,$ $$1,200$ worth is not yet used.

December $31$ A portion of the insurance paid for on Novenber $1$ has expired. No adjustment was made in Novenber.

Decenber $31$ Services worth $$1,500$ are not yet provided to the customer who paid on Novenber $30.$

Decenber $31$ One$-$third of the consulting paid for on Decenber $1$ has been received.

Decenber $31$ The company has performed $$3,300$ of services that the customer paid for on December $15.$

Required:

Prepare entries for these transactions under the method that initially records prepaid expenses as assets and records unearned

revenues as liabilities. Also prepare adjusting entries at the end of the year.

Prepare entries for these transactions under the method that initially records prepaid expenses as expenses and records

unearned revenues as revenues. Also prepare adjusting entries at the end of the year.

Complete this question by entering your answers in the tabs below.

Required $1$

Prepare entries for these transactions under the method that initially records prepaid expenses as assets and records unearned revenues

as liabilities. Also prepare adjusting entries at the end of the year.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

Paid $$1,800$ cash for future advertising.

Note: Enter debits before credits.