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1 Q.no.2. Splish Splash Art is a centre that offers children's music and dance lessons. Splish Splash prepares annual financial statements and has a December 31, 2017, year end. Marks 10 a. On September 1, Splish Splash Art collects $15.000 cash for dance lessons running from September 1, 2017 to December 31, 2017. b. On October 1, Splish Splash Art collects $5,000 cash ($2,500 per month) to rent its performance stage for the full month of December 2017 and January 2018. c. On October 1, 2017 Splish Splash Art collects $8,000 cash for four months of music lessons. The lessons run from October 1, 2017 to January 31, 2018. Required: For each transaction, record the initial journal entry and the adjusting entry required on December 31, 2017