Item5 10 points PrintItem 5 Splish Splash Art is a centre that offers childrens music and dance lessons. Splish Splash prepares annual financial statements and has a December 31, 2023, year-end. On September 1, Splish Spash Art collects $22,100 cash for dance lessons running from September 1, 2023 to December 31, 2023. On October 1, Splish Splash Art collects $6,000 cash in advance from the Music Box Inc. ($3,000 per month) to rent its performance stage for the full month of December 2023 and January 2024. On October 1, 2023, Splish Splash Art collects $9,500 cash for four months of music lessons for a local private school. The lessons run from October 1, 2023 to January 31, 2024. Required: For the above transactions, record the initial journal entry and the adjusting entry required on December 31, 2023. a.