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

November $1$ Paid $$2,000$ cash for future advertising.

November $1$ Paid $$3,600$ cash for $12$ months of insurance through $0$ctober $31$ of the next year.

November $30$ Received $$5,600$ cash for future services to be provided to a customer.

December $1$ Paid $$11,100$ cash for consulting to be received over the next eight months.

December $15$ Received $$8,350$ cash for future services to be provided to a customer.

December $31$ 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 November $1$ has expired. No adjustment was made in November.

December $31$ Services worth $$1,000$ are not yet provided to the customer who paid on November $30.$

December $31$ One$-$eighth of the consulting paid for on December $1$ has been received.

December $31$ The company has performed $$3,700$ 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 $$2,000$ cash for future advertising

Note: Enter debits before credits.

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 expenses and records unearned

revenues as revenues. 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 $$2,000$ cash for future advertising.

Note: Enter debits before credits.