For each transaction, prepare the adjusting journal entry required on December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

No. Debit Credit Date Account Titles and Explanation Dec. 31 1. 2. Dec. 31 3. Dec. 31 4. Dec. 31 5. Dec. 31 View Policies Current Attempt in Progress Action Quest Games adjusts its accounts annually. Assume that any prepaid expenses are initially recorded in asset accounts. Assume that any revenue collected in advance is initially recorded as liabilities. The following information is available for the year ended December 31, 2021: 1. 2. 3. A $3,180 one-year insurance policy was purchased on April 1, 2021. Paid $5,150 on August 31, 2021, for five months' rent in advance. On September 27, 2021, received $3,150 cash from a corporation that sponsors games for the most improved students attending a nearby school. The $3,150 was for 10 games, worth $315 each, that are played on the first Friday of each month starting in October. (Use the Unearned Revenue account.) Signed a contract for cleaning services starting December 1, 2021, for $430 per month. Paid for the first three months on November 30, 2021. (Use Office Expense for the adjusting entry.) On December 15, 2021, sold $1,040 of gift certificates to a local game club. On December 31, 2021, determined that $450 of these gift certificates had not yet been redeemed. (Use the account Unearned Revenue.) 4. 5