Morgan Dance Inc. provides ballet, tap, and jazz dancing instruction to promising young dancers. Morgan began operations in January 2010 and is preparing its monthly financial statements for January 2010. The following items describe Morgan’s transactions in January 2010:
a. Morgan requires that dance instruction be paid in advance—either monthly or quarterly.
On January 1, Morgan received $2,500 for dance instruction to be provided during 2010.
b. On January 31, 2010, Morgan noted that $400 of dance instruction revenue is still unearned.
c. Morgan’s hourly employees were paid $1,200 for work performed in January.
d. Morgan’s insurance policy requires semi-annual premium payments. Morgan paid the $6,000 insurance policy which covered the first half of 2010 in December 2009.
e. When there are no scheduled dance classes, Morgan rents its dance studio for birthday parties for $80 per two hour party. Three birthday parties were held during January. Morgan will not bill the parents until February.
f. Morgan purchased $250 of office supplies on January 10.
g. On January 31, Morgan determined that office supplies of $140 were unused.
h. Morgan received a January utility bill for $320. The bill will not be paid until it is due in February.

Required:
1. Identify whether each entry is an adjusting entry or a regular journal entry. If the entry is an adjusting entry, identify it as an accrued revenue, accrued expense, deferred revenue, or deferred expense.
2. Prepare the entries necessary to record the above transactions.