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CONTATOTO 1. 2 Ouellette & Associates began operations on January 1, 2021. Its fiscal year end is December 31 and it prepares financial statements and adjusts its accounts annually. Selected transactions for 2021 follow On January 10, bought office supplies for $3,400 cash. A physical count at December 31, 2021. revealed $830 of supplies to on hand Paid cash to $11.820, one year insurance polkey on February 1. The policy came into effect on this date. On March 31, purchased equipment for $21,120 cash. The equipment has an estimated eight year useful life Rented office space on September 1 for a one-year period for $190 per month. Paid armuat rent of $5.380 in cash On October 15, received a $1.000 advance cash payment from a client for accounting services expected to be provided in the future. As at December 31, one third of these services had not been performed On November 1, rented out unneeded office space for a six month period starting on this date and received a 51.695 cheque 3. 0 5 6, for the first three months rent BIC true Prepare journal entries to record transactions to All prepaid costs should be recorded in accounts. All revenue collected in advance of providing services should be recorded as the Credit accounties are automatically indented when amount is entered De not inden manually. Round answers to the rest whole dolor 5.275. no entry is required, clect "No Entry for the account title and enter for the amounts Record journal entries in the order presented in the problem - / 25 = Testo w COM - 13 Anjing entry December 31, 2001. seed for each of these tractions. Using the informatorer followed the most internt. Do not het al. Round answer to the who does tyre te for these and entert 1 Als wird debit credit rains of the regulrendstiment The inntry BT I/Dec Specific Account 1 3 Credit 6 Db Credit Debit Credit No Date Account Tities and Explanation Dec 1 31 2 Dec 11 3 Question 1 of 5 ./25 De 3 LA