Required: For each of the following independent situations, prepare journal entries to record the initial transaction on December 31 and the adjustment required on January 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) a. Magnificent Magazines received $12,000 on December 31, 2021, for subscription services related to magazines that will be published and distributed in January through December 2022. b. Walker Window Washing paid $1,200 cash for supplies on December 31, 2021. As of January 31, 2022, $200 of these supplies had been used up. c. Indoor Raceway received $3,000 on December 31, 2021, from race participants for providing services for three races. One race is held January 31, 2022, and the other two will be held in March 2022. View transaction list Journal entry worksheet ! 4 Record the January 31, 2022 adjusting entry for the December 31, 2021 cash payment of $1,200 for supplies. As of January 31, 2022, $200 of these supplies had been used up. 5 Record the receipt by Indoor Raceway of $3,000 on December 31, 2021, from race participants for providing services for three races. One race is held on January 31, 2022, and the other two will be held in March 2022. 6 Record the January 31, 2022 adjusting entry for the December 31, 2021 receipt of $3,000 from race participants for providing services for three races. One race is held on January 31, 2022 and the other two will be held in March 2022. 1 Record the receipt of $12,000 on December 31, 2021, for subscription services related to magazines that will be published and distributed from January through December 2022. 2 Record the January 31, 2022 adjusting entry for the December 31, 2021 receipt of $12,000 for magazine subscriptions to be published January through December 2022. 3 Record the payment of $1,200 cash for supplies by Walker Window Washing on December 31, 2021. As of January 31, 2022, $200 of these supplies had been used up