The Firm is completing the accounting process for the year just ended, December 31, Year 1. The following data with respect to adjusting entries are available. Identify each of these transactions as a defered revenue, deferred expense, accrued revenue, or accrued expense (type of adjustment). Prepare the adjusting entries that should be reocrded for the Firm at end of the current year. (a) The Firm received cash last period from customers purchasing gift cards. During Year 1, customers redeemed a portion of gift cards for $1,550 in service. (b) Office supplies on hand at Junuary 1, Year 1, totaled \$550. Office supplies purchased and debited to Office Supplies during the year amounted to $120. The year-end count showed $85 of supplies on hand. Problem 4 (15 points) Fill in boxes highlighted. If you want, include how you get each in the optional explanation space below. (a) Type of transaction = Adjusting entry: Enter account names following debit (Dr.)/credit (Cr.), and dollar amounts. Include here if you want to further explain your work (optional): (b) Type of transaction = Adjusting entry: Enter account names following debit (Dr.)/credit (Cr.), and dollar amounts. Include here if you want to further explain your work (optional)