Gracio Co., Inc. 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:
Bicameral Legislature
A legislative body made up of two chambers or houses, typically a lower house and an upper house, aiming to provide balance and thorough review of legislation.
House District
A defined geographic area represented by a member in the lower chamber of a legislative body, particularly in the context of the U.S. House of Representatives.
Incumbents Won Reelection
Describes a situation where current officeholders are successful in securing another term in office during an election.
Sociological Representation
Sociological representation refers to elected officials representing the demographic characteristics or interests of their constituents, such as race, gender, or economic status.
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