Pharoah Company adjusts its accounts annually. The following information is available for the year ended December 31, 2020. 1. 2. 3. Purchased a 1-year insurance policy on June 1 for $1,440 cash. Paid $5,800 on August 31 for 5 months' rent in advance. On September 4, received $4,230 cash in advance from a corporation to sponsor a game each month for a total of 9 months for the most improved students at a local school. Signed a contract for cleaning services starting December 1 for $950 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.) On December 5, received $1,400 in advance from a gaming club. Determined that on December 31, $350 of these games had not yet been played. 4. 5. Prepaid Cleaning > Insurance Expense Rent Expense Service Revenue 4640 Unearned Service Revenue 1880 > Prepaid Cleaning