5 Journalize and Post the adjusting entries using the following data, nd post the entries to the General Ledger. Dec. 31 a. Accrued salaries expense is $1,000. Dec. 31 b. Depreciation for all assets is recorded using the modified Half-month Convention for depreciation. Dec. 31 c. Prepaid Insurance for the month has expired. Dec. 31 d. Office supplies on hand equal $100. Dec. 31 e. Unearned Revenue that has been earned during the month of December equals $500. Dec. 31 f. Accrued service revenue = $650. Dec. 01 Miller Delivery Service Inc began operations by receiving $20,000 cash and a truck with a fair market value of $20,000, salvage value of 2,000, and a 5 year Useful life from Robert Miller. The business issued miller 30,000 shares of the $1 Par common stock in exchange for this contribution. Dec. 02 Paid $1,000 cash for a four-month insurance policy. This policy begins December 1st. Dec. 03 Paid $500 cash for office supplies. Dec. 05 Performed delivery services for a customer and received $2,000 cash. Dec. 07 Completed a delivery job, billed the customer for $2,500 and received a promise to collect the $2,500 within one week. Dec. 08 Start writing a Bond contract to raise $100,000 for more trucks and a garage type building to hold them in. Dec. 09 Purchased $300 of fuel for the truck, on account. Dec. 12 Received $15,000 cash for performing delivery services. Dec. 13 Collected $800 in advance for delivery services to be performed later. Dec. 15 Collected $2,500 cash from a customer on account. Dec. 18 Paid employee salary, $2,000. Dec. 21 Issued $100,000, 5%, 10 year Bonds @ 105. Interest to be paid Jun 30 & Dec 30 each year starting in June of next year. Dec. 22 Performed delivery services on account for $700. Dec. 23 Paid office rent of 1,600 for the month of December. Dec. 25 Purchased a Lot of land with a Fair market value of 10,000, A building with a Fair Market Value of 40,000 paying a total of $40,000 in cash for both. Dec. 27 Submitted an order to purchase two more trucks with an estimated purchase price of $25,000 each. Dec. 28 Paid $300 on account. Dec. 30 Cash dividend of $3,000 was paid to stockholders. Since there is only one stockholder, there is no Declaration or Record Date for this transaction.