Ordinary operating maintenance on equipment was recorded as follows: Equipment 2,500 Accounts Payable 2,500 Pronghom received an advance on a custom order for merchandise that will be shipped during the next accounting year. Cash 19,800 Sales Revenue 19,800 Pronghom Corp, is holding inventory on consignment for Rubber Ltd. Pronghorn will only pay Rubber when a sale is made to a customer. Pronghom made the following entry when it received the inventory: Inventory 17,100 Accounts Payable 17,100 On the last day of the accounting period, a 12-month insurance policy was purchased. The insurance coverage is for the next accounting year. Insurance Expense 4,900 Cash 4,900 (a2) For each transaction, if there was a violation of component of the conceptual framework (i .e . qualitative characteristic, element, or principle), give the entry that should have been recorded, if any. (Credit account titles are automatically indented when the amount is entered. Do not indent manually If no entry is required, select "No entry" for the account titles and enter for the amounts.)