Penny's Pool Service & Supply, Inc. (PPSS) had the following transactions related to operating the business in its first year's busiest quarter ended September 30: a. Placed and paid for $2,470 in advertisements with several area newspapers (including the online versions), all of which ran in the newspapers during the quarter. b. Cleaned pools for customers for $12,200, receiving $5,900 in cash with the rest owed by customers who will pay when billed in October. C. Paid Pool Corporation, Inc., a pool supply wholesaler, $11,400 for inventory received by PPSS in May. d. As an incentive to maintain customer loyalty, PPSS offered customers a discount for prepaying next year's pool cleaning service. PPSS received $10,800 from customers who took advantage of the discount. e. Paid the office receptionist $5,400, with $1,620 owed from work in the prior quarter and the rest from work in the current quarter. Last quarter's amount was recorded as an expense and a liability, Wages Payable. f. Had the company van repaired, paying $180 to the mechanic. g. Paid $150 for phone, water, and electric utilities used during the quarter. h. Received $190 cash in interest earned during the current quarter on short-term investments. i. Received a property tax bill for $360 for use of the land and building in the quarter; the bill will be paid next quarter. j. Paid $1,440 for the next quarter's insurance coverage. Required: 1. Prepare journal entries for above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list 1 Placed and paid for $2,470 in advertisements with several area newspapers (including the online versions), all of which ran in the newspapers during the quarter. 2 Cleaned pools for customers for $12,200, receiving $5,900 in cash with the rest owed by customers who will pay when billed in October. 3 Paid Pool Corporation, Inc., a pool supply wholesaler, $11,400 for inventory received by PPSS in May. 4 As an incentive to maintain customer loyalty, PPSS offered customers a discount for prepaying next year's pool cleaning service. PPSS received $10,800 from customers who took advantage of the discount. Note : journal entry has been entered Journal entry worksheet