On 5 May 20x3, mega mart prepaid Green thumb landscaping services to be utilised for maintaining the gardens at their Melbourne store during May and June .

Required:

1. identity if the prepayment of landscaping services during May 20x3 results in an asset, a liability, an income , an expense, Or equity for mega mart's financial accounts.

2. Justify your choice based on the defining criteria provided by conceptual framework for the item created by the prepayment of the landscaping services in May 20x3, and elaborate on how each criterion is met by the given scenario.

kindly answer as soon as possible. thanks in advance.