View Policies Current Attempt in Progress The following information is available for the year-ended December 31, 2022 for Cullumber Landscaping Services: 1. On March 1, paid $7,680 to Alliance Insurance for a one-year insurance policy. 2. 3. Paid $8,760 cash on August 1, for six months of rent in advance. 4. On May 31, sold gift certificates for grass-cutting services and collected $4,500. On December 31, Cullumber determined that $1,780 of these certificates had not yet been redeemed. On October 1, a commercial service customer paid $16.920 as full payment for a one-year contract to be fulfilled on a monthly basis. 5. On December 1, purchased equipment for $26,040 cash with an estimated useful life of 10 years. G (a) Prepare the journal entries to record the initial transaction. (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.) Date Account Titles and Explanation Insurance Expense Insurance Expense Debit Credit