Paragraph Dictate Styles Editor BIU ab X, X' Avv A Problem 1: (12 minutes, 5 marks] Adventure Company's annual accounting year ends on September 30. It is September 30, 2021, and all of the 2021 entries except the following adjusting journal entries have been made. Required: Prepare the adjusting journal entries that are required on September 30, 2021. [5 marks] a) On September 1, 2021, Adventure collected two months' maintenance revenue of $2,400. At that date, Adventure debited Cash and credited Deferred Maintenance Revenue for $2,400. One half of it has now been earned but not yet recorded. Account Names Debit Credit I b) On June 30, 2021, Adventure paid a six-month premium for property insurance in the amount of $3,600 for insurance coverage starting on that date. Cash was credited and Prepaid Insurance was debited for this amount. Account Names Debit Credit c) Cash of $4,200 was collected on August 1, 2021, for services to be rendered evenly over the next year, beginning on August 1. Deferred Service Revenue was credited when the cash was received. Some of it has now been earned but not yet recorded. Account Names Debit Credit d) Depreciation must be recognized on a service truck that was purchased on Aprill, 2021. Annual depreciation is calculated to be $6,000. Account Names Debit Credit e) On September 30, 2021, the company completed the work on a contract for an out-of- province company for $6,200 payable by the customer within 30 days. No cash has been collected and no journal entry has been made for this transaction, Account Names Debit Credit Comm 201 Midterm Ecam - November 1, 2027 1780 words K Focus