On June 30, 2004 Apricot Co. paid $5,000 cash for management services to be performed over a two-ycar period. Apricot follows a policy of recording all prepaid expenses to asset accounts at the time of cash payment. Required: 3. Record the original entry on June 30. What is the balance in the prepaid expenses account? 4. Record the adjusting entry on December 31, 2004 for Apricot. What is the balance in the Prepaid Management Expense account after the adjustment? 5, Redo # 3 assuming the expense method of recording all prepaid es were used on June 30. What is the balance in the Management Expense account at expens December 31, 2004