post journal entries to a T account and determine the final balance in each balance

Exercise 4-17 (Part Level Submission) Action Quest Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31, 2017. 1. Purchased a 1-year insurance policy on June 1 for $2,520 cash. 2. Paid $5,300 on August 31 for 5 months rent in advance. 3 OrSeptember 4, received $3,240 cash n advance from a corporation to sponsor a game each month for a total of 9 months for the most improved students at a local schoot-- 4. Signed a contract for cleaning services starting December 1 for $1,200 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.) 5. On December 5, received $1,450 in advance from a gaming club. Determined that on December 31, $500 of these games had not yet been played. v (a) Your answer is corect Kimmel, Financial Accoenting, Be Help 1 Satem Announcements e (c) post the Jour a entres in parts a and b to T aocounts and determine the nal balance in each account balance. 0te: Postng to the Cash account is not retured Posting to the Cash account is not required. (Round answers to 0 decimal places, e.a. s,27s. Post entries in the order displayed in the goandanswers to O decimat Prepaid Insurance Prepaid Rent Unearned Service Revenue Prepaid Cleaning Rent Expense Service Revenue and Repairs Expense 9:53 PM 252019