Part 2: Adjusting Entries Advance Corporation has the following transactions that require adjustments for March, 2017 Data for adjusting entries 1. March 1 Received $2,400 in advance for a work to be performed on March 20, the company performed the service on March 20. 2- March 1 Purchased one-year insurance policy for $1,200. 3- March 16 Hired a secretary to be paid on the 15th day of each month. Monthly salary for the secretary is $1,200. Instructions Prepare the necessary adjusting entries for the month of March for the transaction day and the end of the month. (20 points)