Updates Availab Do you want to re updates now or to Saved Faded homework. For each of the following independent situations, prepare journal entries to record the initial transaction on December 31 and the adjustment required on January 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) a. Magnificent Magazines received $12,000 on December 31, 2018, for subscription services related to magazines that will be published and distributed in January through December 2019. b. Walker Window Washing paid $1,200 cash for supplies on December 31, 2018. As of January 31, 2019, $200 of these supplies had been used up. c Indoor Raceway received $3,000 on December 31, 2018, from race participants for providing services for three races. One race is held in January 31, 2019, and the other two will be held in March 2019. View transaction list Journal entry worksheet 4 5 6 Record the receipt of $12,000 on December 31, 2018, for subscription services related to magazines that will be published and distributed from January through December 2019. Note: Enter debits before credits. Date General Journal Credit Debit 12,000 Dec. 31 Cash 12,000 held in January 31, 2019, and the other two will be held in March 2019. View transaction list Journal entry worksheet Record the January 31, 2019 adjusting entry for the December 31, 2018 receipt of $12,000 for magazine subscriptions to be published January through December 2019. Note: Enter debits before credits Date Credit General Journal + Debit 12,000 Jan. 31 12,000 Record entry Clear entry View general journal View transaction list Journal entry worksheet