The following information is available for the year-ended December 31, 2022 for Wildhorse Landscaping Services: 1. On March 1, paid $6,600 to Alliance Insurance for a one-year insurance policy. 2. On May 31, sold gift certificates for grass-cutting services and collected $4,250. On December 31 , Wildhorse determined that $1,920 of these certificates had not yet been redeemed. 3. Paid $8,160 cash on August1, for six months of rent in advance. 4. On October 1, a commercial service customer paid $17,880 as full payment for a one year contract to be fulhiled on a monthly basis. 5. On December 1, purchased equipment for $25,080 cash with an estimated useful life of 10 years. Prepare the journal entries to record the initial transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent monually. List all debit entries before credit entries. Record journal entries in the order presented in the problem. Prepare the adjusting entries required on December 31, assuming Wildhorse records adjusting entries annually. (Credit account titles are automatically indented when the amount is entered. Do not indent manually, List all debit entries before credit entries, Record journal entries in the order presented in the problem.)