Q3. (20 pts.) Journalize the Below Adjusting transactions. 1. On March 1, 2014, INK CO. paid $60,000 for office rent covering the three-month period ending May 31, 2014. Journalize the adjusting entry on March 31. Date Account Title Date Debit 2. INK CO. records prepaid expenses as expenses when incurred, and unearned revenues as revenues when the payment is received in advance. At the end of the year, INK CO. makes the necessary adjustments based on accrual basis accounting. On July 1, INK CO. paid rent for an office in the amount of $24,000 for the period July 1 through June 30 of the following year. Provide the year-end adjusting entry for rent prepayment. Account Title Credit Debit Credit Q4 - (8 points) Marielle Corporation pays $500,000 for 100,000 shares to acquire 40% of Laura Investments on January 5, 2019. Marielle Corporation sells 10,000 shares for $40,000 on January 6, 2021. What is the journal entry to be recorded on January 6, 2021? ****** ******* ***********