Question 1 Al-Ain Co. had the following transactions in the last few months of its fiscal year ended on December 31st. RECORDING ENTRIES: - Sep. 1 Received $19,500 cash to perform future consulting services for an industrial client, Sepi Paid in advance $3,000 cash for 6 months of rent expense through February 28th of the next year. Sep 30 Paid S2,200 cash to a law firm for future legal services to be received. Oct 1 Paid $3,150 cash for future newspaper advertising. Oct 31 Utilities expenses amounting S1,500 for the month of October are paid at the end of the month. Nov 15 Purchased office furniture amounting S4,500 and paid by cash. ADJUSTING ENTRIES: Dec 31 The company has performed $6,400 of services that the customer paid for on Sep. 1. Dec 31 of the advertising paid for on Oct 1, total $1,500 worth of advertisement is used during the current period. Required: - a) Prepare recording entries during the year for these transactions under the method that records prepaid expenses and unearned revenues at the time cash is paid or received in the balance sheet accounts. (3 marks) b) Also prepare two of the given adjusting entries mentioned above at the end of the year on Dec 31st. (2 marks) TTT Paragraph: Arial 3(126) EE. T DOO T' S. - 1 DE THE Words MacBook Pro