Question 1 of 5 -/2 E View Policies Current Attempt in Progress Sunland Quest Games adjusts its accounts annually. The following information is available for the year ended December 31, 2020 1. 2 3. Purchased a 1-year insurince policy on June 1 for $2.100 cash. Pald $ 6,900 on August 31 for 5 months' rent in advance. On September 4, received $ 3.600 cash in advance from a company to sponsor a game each month for a total of 9 months for the most improved students at a local school Signed a contract for cleaning services starting December 1 for $1.200 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.) On December 5, received $ 1,600 in advance from a gaming club. Determined that on December 31,5 440 of these games had not yet been played 4. 5. Question 1 of 5 - 123 For each of the above transactions, prepare the journal entry to record the initial transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles Debit Credit June 1 Aug. 31 Sept. 4 Nov. 30 Dec Question 1 of 5 -12 E For each of the above transactions, prepare the adjusting journal entry that is required on December 31, (Hint: Use the account Service Revenue for item 3 and Maintenance and Repair Expense for item 4) (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 (To record insurance used) Dec. 31 (To record rent used) Dec. 31 (To record revenue used) Question 1 of 5 -12 Post the journal entries in parts (a) and (b) to T-accounts and determine the final balance in each account balance. (Note: Posting to the Cash account is not required.) (Post entries in the order of Journal entry presented in the previous part) Prepaid Insurance Prepaid Rent Unearned Service Revenue