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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,
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 $24,900 cash for dance lessons running from September 1, 2020 to December 31, 2020. b. On October 1, Splish Splash Art collects $7,600 cash in advance from the Music Box Inc. ($3,800 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 $11,900 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. View transaction list Journal entry worksheet 1 2 Record cash received in advance for future dance lessons. >
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