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Mountain Quest Games Inc. adjusts its accounts annually. The following information is available for the year ended December 3 1 , 2 0 2 4

Mountain Quest Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31,2024:
Purchased a one-year insurance policy on June 1 for $2,640 cash.
Paid $6,950 on August 31 for five months' rent in advance.
On September 4, received $4,320 cash in advance from a corporation to sponsor a game each month for a total of nine months for the most improved students at a local school.
Signed a contract for cleaning services starting December 1, for $1,090 per month. Paid for the first two months on November 30.(Hint: Use the account Prepaid Cleaning to record this prepayment.)
On December 5, received $1,550 in advance from a gaming club. Determined that on December 31,$580 of these games had not yet been played.
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