Nov. 1: Requirements Date More Info Nov 1 1. Journalize the transactions assuming that sentit Packin Mail debitis asset count for prepaid expenses and credits alability count for neamed revenues 2. Journaline the related adjusting entries at December 31, 2018 3. Post the jumal and adjusting entries to the accounts, and show their balance December 31, 2018. gnore the Cash account) 4. Repeat Requirements 1-3. This time, debit an expense account for prepaid expenses and credit a revenue account for reamed revenues 5. Compare the account balances in Requirements 3 and 4. They should be equal Now 1 Paid 10,000 toreront covering the four month period ending February 28, 2018 1 Paid $7.000 insurance covering the six-month period ending December 31, 2019 Dec. 1 Collected $12,000 cash in advance from customers. The service revenue will be camed $2.400 monthly over the five-mort period ending April 30, 2019. 1 Collected $7.500 cash in advance from customers. The service revenue will be earned $1,500 monthly over the five-month period ending February 28, 2019 Nov. 1: Date Nov. 1 Print Done Done