Question 1 - Vancouver Co. completed the below transactions during 2019. Complete the journal entries required on the date the transaction happened and also the adjusting entry required on December 31, 2019. 25 marks a. On July 1, 2019, Vancouver Company paid $5,000 cash for a two-year insurance premium for its equipment. b. On October 1, 2019, Vancouver company collected $4400 as advance from a customer for services it will provide over the next two years. Date Account title Debit Credit 2 Question 2 - On December 31, 2019, James Co. completed the below Aging Schedule for accounts receivable. Calculate the total Uncollectible receivable in the table below. 25 marks Days Outstanding 1-30 days 31-60 days 61-90 days Over 90 days Total Accounts Receivable $157,000 $89,000 $51,000 $27,000 Est. % Uncollectible Uncollectible Accounts Rec. 1% 2% 4% 21% The Allowance for uncollectible receivables account already has a credit balance of $1000. Calculate the adjustment amount for the journal entry and complete the journal entry