3 4 Calculate the adjustments at the end of 1 month for the following questions and prepare the journal entries for the transactions. 1 $3,900 worth of supplies was in the storage room in the beginning of the month. During the month $4.900 of supplies was purchased and end of the month $2,200 remained. 2 An advertising contract was paid in advance for six months on June 1. The total cost is $8,580. At the end of the month, show the adjusting entry. An insurance policy was paid for in advance for one year on February 1. The total cost is $4,920. At the end of the month, show the adjusting entry. A truck was purchased for $35,740 on July 1 of this year and has an expected useful life of four years and a salvage (trade in) value of $3,100. The beginning inventory of food on March 1 was $1,800. Purchases for the month totalled $1,600 and the ending inventory of food was determined by the physical inventory count to be $1,100. 6 Jenny Garth was paid $8,800 for 20 personal training services to be delivered. By the end of the month, Jenny delivered 7 sessions. Show the adjusting entry at the end of the month. 7 Joann worked for a consulting company for $22 dollars an hour a works 7.5 hours a day Tuesday to Friday and staff are paid bi-weekly. Interest on the bank loan is set at 5% of $10,200 annually. One month of interest has accrued. 9 Bank loan provides $7,680 in annual Interest. What is the banks interest income for the month? 10 On June 30, catering food services worth $3,100 had been provided to Bill for which no cash has been received and no bills have been sent. 5 8 Date Account Title and Explanation Debit Credit 2022 1 Office Supplies . 6600 6600 Supplies Expense To record supplies used for the month 2 Advertising Expense 1430 Accounts Payable 1430 To record advertising for the month 3 Prepaid Insurance + 410 Insurance Expense 410 To record insurance for the month Accumulated Depreciation 680 680 Depreciation Expense To record depreciation for the month 5 Cash . 1300 Food Expense 1300 To record food used for the month 6 To record revenue earned 7 To record accrued wages for the month a . To record and interest 9 To accrue interest eamed 10 To accrue revenue corned