Restore the file Boston Catering. Do not use the file created in the exercises of this chapter.

Make the following adjustments and then print an income statement and balance sheet for the period 7/1/10 through 9/30/10 setting the columns to Month so that you view an income statement for July, August, and September 2010 and a balance sheet as of 7/31/10, 8/31/10, and 9/30/10.

a. The \($3,000\) prepaid insurance balance recorded as of 6/30/10 represented three months of insurance premiums, which expire equally in July, August, and September.

b. Depreciation expense was \($1,000,\) \($1,075,\) and \($1,350\) for the months of July, August, and September.