Metlock Games Inc, adjusts its accounts annually. The following information is available for the vear...
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Metlock Games Inc, adjusts its accounts annually. The following information is available for the vear ended December 31, 2025. 1. Purchased a 1-year insurance policy on June 1 for $1,620 cash. 2. Paid $5,850 on August 31 for 5 menth' rent in advance. 3. On Soptember 4 , received $3,240 cash in advance from a corporation to sponsor a game cach month for a total of 9 months for the most improved students at a local school. 4. Signed a contract for cleaning services starting December 1 for $900 per month. Paid for the first 2 months on November 30 . (Hint Use the account Prepaid Cleaning to record prepayments.) 5. On December 5 , received $1.350 in advance from a gaming club. Determingd that on December 31,$430 of these games had not yet been played
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