2. (a, b, c)

Service Pro Corp (SPC) is preparing adjustments for its September 30 year-end. For the following transactions and events, show the September 30 adjusting entries that SPC would make. (If no entry is required for a transaction/event. select " No Journal Entry Required" in the first account field.) Prepaid Insurance shows a balance of zero at September 30. but Insurance Expense shows a debit balance of $2, 088. representing the cost of a three-year fire insurance policy that was purchased on September 1 of the current year. On August 31 of this year. Cash was debited and Service Revenue was credited for $1, 290. The $1, 290 related to fees for a three-month period beginning September 1 of the current year. The company's income tax rate is 31%. After making the above adjustments. SPC's net income before tax is $10,000. No income tax has been paid or recorded. Record the adjusting entry for Insurance expense of $2, 088 representing the cost of a three- year fire insurance policy that was purchased on September 1 of the current year. Record the adjusting entry for si, 290 received on August 31 of this year and credited to service revenue relating to fees for a three-month period beginning September 1 of the current year. Record the adjusting entry for the income tax installment that was not yet paid