Splish Splash Art is a centre that offers children's music and dance lessons. Splish Splash prepares annual financial statements and has a December 31, 2020. year-end. a. On September 1, Splish Spash Art collects $15,000 cash for dance lessons running from September 1, 2020 to December 31, 2020. b. On October 1, Splish Splash Art collects $5,000 cash in advance from the Music Box Inc. ($2.500 per month) to rent its performance stage for the full month of December 2020 and January 2021. c. On October 1, 2020, Splish Splash Art collects $5,000 cash for four months of music lessons for a local private school. The lessons run from October 1, 2020 to January 31, 2021. Required: For the above transactions, record the initial journal entry and the adjusting entry required on December 31, 2020. a