Question 11 Prepare the following adiustlng lournals or correcting journals as at 30 June 2020 for Manchester Limited. If appropriate record "no entry'. Narrations are required and round all numbers to the nearest whole dollar where required. 1. On 'I January, 2020, Manchester Limited prepaid rent of $12,000 for the period 1 January to 31 December 2020. The amount of $12,000 is still recorded as prepaid rent on the unadjusted trial balance. [2 marks) 2. 0n 1 February 2020 Manchester Limited received cash from a a year bank loan 01560.000. The interest 01 6% is required to be paid on an annual basis on 31 January each year. No journal entries have been made in respect of the loan since 1 February 2020 [2 marks) 3. A customer agreed to make a $15,000 payment in advance on 1 January 202010r services to be provided by Manchester Limited over a 127month period from 1 January 2020 to 31 December 2020. This cash receipt was recorded against revenue received in advance in the general ledger. As at 30 June 2020, half of the work was completed. no service revenue has been recognised to date by Manchester Limited. (2 marks} 4. During June 2020, Manchester Limited engaged a media company. Momentum Media to provide digital advertising services, the agreed work was completed in June 2020 and an amount of $6.000 is due to the supplier however an invoice has not yet been received by Manchester Limited. No record has been made in the general ledger to date in respect of this transaction. (1 mark) 6. In June 2020 Manchester Limited has completed provided services totalling $6,200 which has not yet been invoiced to the customer. [1 mark) Total 8 marks