Ivanhoe Magazine Ltd, is a small company run by two enterprising university students. They publish an issue of the magazine once a month from September through April. The magazine reports on various university activities and provides information such as how to get the best concert tickets, where to get the best pizza for the best price, where the good study spots are, and how to get library staff to help with research. The magazine is sold either on a prepaid subscription basis for $12 for all eight issues, or for $2 per issue. During September, 1,650 subscriptions were sold. Up to the end of December, a total of 10,725 single copies were sold. The company also pre-sells advertising space in the magazine to local businesses that focus on the student market. During July and August, the company signed up several businesses and collected $16,500 in advertising revenues. The advertisements are to be included in all eight issues of the magazine. The cost of printing and distributing the first four issues of the magazine was $34,650, of which $31,350 was paid by the end of December. Miscellaneous other expenses totalling $1,650 were incurred and paid in cash between September and December. Journalize all the transactions to the end of December. (Record journal entries in the order presented in the problem. Credit occount titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the Prepare any necessary adjusting entries on December 31 . (Credit account titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. List all debi entries before credit entries.) Prepare a simple statement of income for the magazine, for the period from July to December. (Enter loss using either a negative sign Calculate the balance in the magazine's Cash account on December 31