1. Create journal entries for the following adjustment entries: M. Received $1,500 cash from a customer for 3 months of service N. Employees are paid $2,250 every Friday for a 5-day work week. April 30, 2021 is a Wednesday O. Record use of 1 month's prepaid auto insurance ($900 for 3 months). P. On April 30, 2021, the supplies on hand is $45 (On April 1, 2021 it was $350) Q, Depreciation for the current month includes equipment ($750) and trucks ($450). Make a compound entry 2. Post the transaction to the ledger. Your general ledger cash balance uses a full ledger sheet; use the T Chart for all other accounts. (Transactions a-l are from IP2. However, amounts have been changed.) Colorado Service Center General Ledger Account: Cash Account Number: 101 Balance Trans. CREDIT CREDIT 1 DEBIT 35,000 49,000 N . b. 3 26,500 4 d. 4.300 ON f. Description Open Balance Notes Payable Land Service Revenue Payment on account Expenses Received payment Prepaid Auto Insurance Harper drawing Maintenance Expense 3,275 6,000 DEBIT 35,000 84,000 57,500 61.800 58,525 52,525 55,625 54,725 51,225 50 995 6 g. h. 7 3,100 000 i. k. 900 3.500 10 1. 230 11 Focus 4. Complete the end of the accounting cycle for Colorado Service Center by creating the income statement, statement of owner's equity, and balance sheet for the month ending April 30, 2021. Balance Sheet Assets Liabilities Equipment Less: Accum. Dep. Truck Less: Accum. Dep. Total Liabilities Owner's Equity Total Assets Total Liabilities & OE 131 130