question 2 only

1- Prepare journal entries for the following transactions. Then indicate the effect (+ or -) of the journal entry on the accounting equation. Use the table on the following page 1- March 1: The XYZ Company signed a 6 month rent of a building, which is effective March1. XYZ Company prepaid the full amount of the 6 months rent for $24,000. 2- March 1: XYZ Company lends $400,000 to ABC Company at an interest rate of 12% for 2 months. Principal and interest will be received at the end of two months 3- March 2: XYZ Company received $6000 from its customers, and agreed to provide services for the next 2 months (including this month). 4- March 30: XYZ Company received its utilities bill of $100, which will be paid April 10. +- + ACCOUNT NAME Debit Credit Assets Liabilities + Equity 1- March 1- March 2- March I 30- March 2. Prepare the adjusting journal entries to record for each of the situations below: Adjusting entry 1: Record the adjusting entry related to rent (in the 1s transaction) on March 31. Adjusting entry 2: Record the adjusting entry related to note receivable (in the 2nd transaction) on March 31