The following are transactions recorded by Flint Corporation during the current year. 1. Ordinary operating maintenance on equipment was recorded as follows:

Equipment			3,050
	Accounts Payable				3,050

2. Flint received an advance on a custom order for merchandise that will be shipped during the next accounting year.

Cash			8,600
	Sales Revenue				8,600

3. Flint Corporation is holding inventory on consignment for Rubber Ltd. Flint will only pay Rubber when a sale is made to a customer. Flint made the following entry when it received the inventory:

Inventory			14,600
	Accounts Payable				14,600

4. On the last day of the accounting period, a 12-month insurance policy was purchased. The insurance coverage is for the next accounting year.

Insurance Expense			6,960
	Cash				6,960

(a2) For each transaction, if there was a violation of component of the conceptual framework (i.e., qualitative characteristic, element, or principle), give the correct journal entry that should have been initially recorded, if any. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

No.	Account Titles and Explanation	Debit	Credit
1.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
2.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
3.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
4.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount