QUESTION 6 Fahad Company collected $25,000 in advance on October 1st for 5 months of services which would be provided from the start of October of 2016 through end of February of 2017. The revenue reported from this transaction during 2016 would be O $25,000 $15,000 $0 $10,000 QUESTION 7 Adjusting entries are: not necessary if the accounting system is operating property usually required at the end of the period before financial statements is prepared made to balance sheet accounts only O made whenever management desires to change an account balance