QUESTION 3 For each of the following transactions for the Banner Company, mark the account that is debited, the account that is credited, and the amount for each. Choose from the following account names AND PLEASE SPELL THEM CORRECTLY IN YOUR ANSWER or Blackboard will mark your answer wrong. Note: Accounts: Cash, Prepaid Insurance, Equipment, Accumulated Depreciation, Unearned Revenue, Service Revenue, Insurance expense, Depreciation expense. 1. The Banner Company paid $1,200 for an insurance policy in December, 2017. This insurance policy covers the first six months of 2018. What will Banner record in December? a. Dr. b. Cr. 2. What will Banner record in January, 2018, related to the insurance in part (1). a. Dr. b. Cr. 3. Banner purchased equipment on January 1, 2018, for $120,000. The monthly depreciation is $1,000. What should Banner record on January 1, when the equipment is purchased? a. Dr. b. Cr. 4. What should Banner record on January 31, 2018, related to the equipment purchased in (3)? a. Dr. b. Cr. 5. What should Banner record on February 28, 2018, related to the equipment purchased in (3)? a. Dr. b. Cr. 6. Banner received cash totaling $1,700 from a customer on December 15, 2017. The cash was to provide services in the following amounts: $300 in December 2017, $800 in January 2018, and $600 in February 2018. Assuming services were provided according to schedule, what should Banner record on December 15, 2017? a. Dr. b. Cr. 7. What should Banner record in January, 2018, related to the cash received in (6)? a. Dr. b. Cr