QIMMIQ INC. QIMMIQ Inc. has a December 31, 2020 year end and prepares adjusting entries annually. Required: For each numbered situation: a) prepare the necessary journal entries to record the transactions and adjustments on the specified dates (or indicate that no journal entry is needed). b) Indicate the net impact of the entire situation on the 2020 accounting equation (ie the impact on total assets, total liabilities and total equity) for the entire scenario. Increase (+), Decrease (-) AND $ AMOUNTS FOR EXAMPLE: Sold common shares for $5,000 would be: For Required b: Total Assets + $5,000: Total Equity $5,000 1) On November 1, QIMMIQ Inc. received $1.500 cash upfront from a customer for work to be performed evenly over three months (from Nov 1, 2020 - January 31, 2021). 2) On October 1, 2020 QIMMIQ Inc, paid $6,000 for rent for the year commencing October 1. 3) On December 31, 2020 QIMMIQ Inc. estimated that $5,000 of consulting work was performed for QIMMIQ in 2020 but no bill has been received from this supplier and no payments have been made for the work