The following are transactions recorded by Grouper Corporation during the current year. 1. Ordinary operating maintenance on equipment was recordeff as follows: Equipment AccountsParyable3,1503,150 2. Grouper received an advance on a custom order for merchandise that will be shipped during the next accounting year. Cash 6700 Sales Revenue 6.700 3. Grouper is holding inventory on consignment for Rubber titd. Grouper will onty pay Rubber when a sale is made to a customer. Grouper made the following entry when it received the imentory: 3. Grouper is holding inventory on consignment for Rubber Ltd. Grouper will only pay Rubber when a sale is made to a customer. Grouper made the following entry when it received the inventory: 4. On the last day of the accounting period, a 12-month insurance policy was purchased. The insurance coverage is for the hext accounting year, 5,760 Cash 5.760 (a2) For each transaction, if there was a violation of component of the conceptual framework (that is, qualitative characteristicielement,of For each transaction, if there was a violation of component of the conceptual framework (that is, qualitative characteristic, element, o principle) if any, give the correct journal entry that should havedeen initially recorded, (List all debit entrles before credit entries. Ondit occount titles are outomatically indented when the amount is entered, Do not indent manually. If no entry is required, select "No entry" for the occount tiles and enter 0 for the amounts) 1. 2. 3. 4