Question 1 of 9 2 10/20 E View Policies Show Attempt History Current Attempt in Progress 2 M The following information is available for the year-ended December 31, 2022 for Cullumber Landscaping Services: 1. On March 1. paid $7,680 to Alliance Insurance for a one-year insurance policy. On May 31, sold gift certificates for grass-cutting services and collected $4.500. On December 31, Cullumber determined that $1,780 of these certificates had not yet been redeemed. Paid $8.760 cash on August 1, for six months of rent in advance On October 1, a commercial service customer paid $16,920 as full payment for a one-year contract to be fulfilled on a monthly basis On December 1, purchased equipment for $26,040 cash with an estimated useful life of 10 years. 3 q M 4. 5. QU MU QU Mul (a) Que MUR Your Answer Correct Answer Que Your answer is correct Question 1 of 9 10/20 E (b) Prepare the adjusting entries required on December 31, assuming Cullumber records adjusting entries annually. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Dec. 31 Dec. 31 Dec. 31 Dec 31 Dec. 31