Q2: (6 marks) A) Conan Industries collected $100,000 from customers in 2019. Of the amount collected $25,000 was from revenue earned on account in 2018. In addition, Conan earned $40,000 of revenue in 2019, which will not be collected until 2020. Instructions: prepare adjusting entries and post revenues in ledger in 31\12\2019 B) Conan Industries also paid $78,000 for expenses in 2019. Of the amount paid, $30,000 was for expenses incurred on account in 2018. In addition, Conan incurred $42,000 of expenses in 2019, which will not be paid until 2020. Instructions: prepare adjusting entries and post expenses in ledger in 31\12\2019