On October 1, year one, Josh Smith, attorney, accepted a $10,800 cash advance from his client, James company, for services to be performed over the next six months

Haip Save & E Che Required a. Record the deferr intermediate calculations. Enter any decreases to account balances with a minus sig al and the related December 31, Year 1, adjustment for Josh Smith in an accounting equation (Do not round JOSH SMITH ATTORNEY-YEAR 1 Event AssetsLiabilities CashUnearned 4 Stockholders' Equity Common Retained Cash collected Revenae earned b. Record the deferral and the related December 31, Year 1, adjustment for James Company in an accounting equation. (Do not round intermediate calculations. Enter any decreases to account balances with a minus sign.) JAMES COMPANY-YEAR 1 Liabilities s Stockholders' Equity Common+ Assets Event onEarni Prepaid +Retained Cash al Fees Stock Cash paid Service ised