12. Please assist with the following:

Choices to choose from:

Preparing Adjusting Entries Jake Thomas began Thomas Refinishing Service on July 1,2015. Selected accounts are shown below as of July 31, before any adjusting entries have been made. Unadjusted Account Balances Debit Credit Prepaid rent Prepaid advertising Supplies inventory Unearned refinishing fees Refinishing fees revenue $9,300 990 6,600 $960 4,500 Using the following information, prepare the adjusting entries necessary on July 31 (a) using the financial statement effects template and (b) in journal entry form. (c) Set up T- accounts for each of the ledger accounts, enter the balances above, and post the adjusting entries to them 1. On July 1, the firm paid one year's advance rent of $9,300 in cash. 2. On July 1, $990 cash was paid to the local newspaper for an advertisement to run daily for the months of July, August, and September. 3. Supplies still available at July 31 total $1,460. 4. At July 31, refinishing services of $1,160 have been performed but not yet recorded or billed to customers. The firm uses the account Fees Receivable to reflect amounts due but not yet billed. 5. A customer paid $960 in advance for a refinishing project. At July 31, the project is one- half a. Using the financial statement effects template, prepare the necessary adjusting entries. Remember to use negative signs with answers, when appropriate