For each separate case, record an adjusting entry (if necessary). a. Lonzo Company receives $3,000 cash in advance for six months of recycling services on September 1 and records it by debiting
Cash and crediting Unearned Revenue for $3,000. Lonzo provides recycling services monthly as promised. Prepare the December
31 year-end adjusting entry that Lonzo records for the work performed from September 1 through December 31.
b. On October 20, Milwaukee Bucks sold a 10 game ticket package for $200 and recorded Unearned Revenue. By December 31, 4 of
the 10 games had been played. Record the December 31 year-end adjusting entry that the Bucks record for the 40% of revenue
earned on the $200 ticket package.
Prepare the December 31 year-end entry that companies record to adjust the Revenue and the Unearned Revenue accounts.

Required information lansing company’s 2017 income statement and selected balance sheet data (for current assets and current liabilities) at december 31, 2016 and 2017, follow. lansing company income statement for year ended december 31, 2017 sales revenue $130,200 expenses cost of goods sold 53,000 depreciation expense 17,500 salaries expense 29,000 rent expense 10,100 insurance expense 4,900 interest expense 4,700 utilities expense 3,900 net income $7,100 lansing company selected balance sheet accounts at december 31 2017 2016 accounts receivable $6,700 $8,000 inventory 3,080 2,090 accounts payable 5,500 6,800 salaries payable 1,100 810 utilities payable 440 270 prepaid insurance 370 500 prepaid rent 440 290 required: prepare the cash flows from operating activities section only of the company’s 2017 statement of cash flows using the indirect method. (amounts to be deducted should be indicated with a minus sign.)