PRUVE MASTERY: Adjusting Entries Prove your mastery! Your results will report to the gradebook. If you are not ready to submit work for a grade, you can try activities or attempt the Practice Mastery. Your work will be saved as you work through each part. Read each scenario, decide whether the company is using Cash basis or Accrual basis, and then enter your answer to the question. The Blue Nile Law Firm prepays for advertising in the local newspaper. On January 1, the law firm paid $2,870 for six months of advertising. Blue Nile Law Firm recorded $2,870 in the Prepaid Advertising account. Accrual basis If Blue Nile Law Firm had recorded their expenses using the other method, how much advertising expense would they have recorded for the two months ending February 28? Enter this value as a positive number. Seashore Home provides house-sitting for people while they are away on vacation. Some of its customers pay immediately after the job is finished. Some customers ask that the business send them a bill. As of the end of the year. Seashore Home has collected $1.220 from cash paying customers. Seashore Home's remaining customers owe the business $2,010. Seashore Home recorded $1.220 of service revenue for the year. Cash basis If Seashore Home had recorded their service revenue using the other method, how much service revenue would they have recorded for the year? 2010 Marvelous Occasions received 52,030 for services to be performed for the next 8 months on March 31 and recorded this transaction using the Unearned Revenue account Accrual basis if Marvelous Occasions had recorded their service revenue using the other method, how much service revenue would they have recorded for the year