Question: Determine if the following transactions require an adjusting entry or not. If so, please provide the correct entry. If not, please state no entry required.

Determine if the following transactions require an adjusting entry or not. If so, please provide the correct entry. If not, please state no entry required.

a. The Rhode Island Red Birds football team received $1,500,000 in cash for advance ticket sales in February. By December, the season had ended.

b. Fox and Company owes its employees $34,000 at the end of September, but no accrual has been made.

c. Oscar Corporation made an advance payment of $9,000 to a local company for advertising that would run during October. It is now October 31, and the advertising has run. Assume an original entry was made for prepaid advertising.

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