Sheffield Corp. adjusts its accounts annually. The following information is available for the year ended December 31, 2020. 1. 2 2. 3. 4. 5. Purchased a 1-year insurance policy on June 1 for $1.200 cash. Paid $5,000 on August 31 for 5 months' rent in advance. On September 4, received $4,140 cash in advance from a corporation to sponsor a game each month for a total of 9 months for the most improved students at a local school, Signed a contract for cleaning services starting December 1 for $950 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.) On December 5, received $1,450 in advance from a gaming club. Determined that on December 31, $550 of these games had not yet been played. For each of the above transactions, prepare the journal entry to record the initial transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) No. Date 1. 2. 3. Account Titles and Explanation 3 > Prepaid Insurance Cash Prepaid Rent Cash Cash Unearned Ticket Revenue Prepaid Cleaning Debit