Gracio Co.had the following transactions in the last two months of its year ended December 31.Prepare entries for these transactions under the method that records prepaid expenses as expenses and records unearned revenues as revenues.Also prepare adjusting entries at the end of the year. 
Definitions:
Social Integration
The process by which individuals from different backgrounds come together to form a cohesive and unified society, sharing norms, values, and practices.
Respect for Law
An attitude or behavior demonstrating adherence to and reverence for laws and the legal system.
Capitalism
An economic system characterized by private or corporate ownership of capital goods, by investments determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market.
Unequal Funding
The distribution of financial resources in an inequitable manner, often leading to disparities in the quality of services or opportunities.
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