a. Each Friday, Loco pays employees for the current week's work. The amount of the weekly payroll is $5,000 for a five-day workweek. This year December 31 falls on a Wednesday. Loco will pay its employees on January 2. Date Accounts and Explanation Debit Credit Dec. 31 b. On January 1 of the current year, Loco purchases an insurance policy that covers two years, $6,000. (When the policy was purchased on January 1, assume that Loco debited an asset account.) Date Accounts and Explanation Debit Credit Dec. 31 3 c. The beginning balance of Office Supplies was $4,200. During the year, Loco purchased office supplies for $5,300, and at December 31 the office supplies on hand total $1,200. (Assume that Loco debits an asset account when supplies are purchased.) Date Accounts and Explanation Debit Credit Dec. 31 d. During December, Loco designed a landscape plan and the client prepaid $5,000. Loco recorded this amount as Unearned Revenue. The job will take several months to complete, and Loco estimates that the company has eamed 60% of the total revenue during the current year. Date Accounts and Explanation Debit Credit Dec. 31 e. At December 31, Loco had eamed $8,000 for landscape services completed for Brimmfield Appliances. Brimmfield has stated that it will pay Loco on January 10. Date Accounts and Explanation Debit Credit Dec. 31 f. Depreciation for the current year includes Equipment, $3,600, and Trucks, $1,500. (Prepare a compound entry to record depreciation on both the equipment and the trucks.) Date Accounts and Explanation Debit Credit Dec 31 g. Loco has incurred $300 of interest expense on a $850 interest payment due on January 15. Date Accounts and Explanation Debit Credit Dec. 31 a. Each Friday, Loco pays employees for the current week's work. The amount of the weekly payroll is $5,000 for a five-day workweek. This year December 31 falls on a Wednesday. Loco will pay its employees on January 2. Joumalize the subsequent journal entry that Loco will record on January 2. Date Accounts and Explanation Debit Credit Jan. 2 d. During December. Loco designed a landscape plan and the client prepaid $5,000. Loco recorded this amount as Unearned Revenue. The job will take several months to complete, and Loco estimates that the company has earned 60 percent of the total revenue during the current year. Journalize the subsequent journal entry that Loco will record when the job is complete. Date Accounts and Explanation Debit Credit g. Loco has incurred $300 of interest expense on a $850 interest payment due on January 15. Joumalize the subsequent joumal entry that Loco will record on January 15. Date Accounts and Explanation Debit Credit Jan. 15 Choose from any list or enter any number in the input fields and then continue to the next question. a. C. Each Friday, Loco pays employees for the current week's work. The amount of the weekly payroll is $5,000 for a five-day workweek. This year December 31 falls on a Wednesday. Loco will pay its employees on January 2. b. On January 1 of the current year, Loco purchases an insurance policy that covers two years, $6,000. The beginning balance of Office Supplies was $4,200. During the year, Loco purchased office supplies for $5,300, and at December 31 the office supplies on hand total $1,200. d. During December, Loco designed a landscape plan and the client prepaid $5,000. Loco recorded this amount as Unearned Revenue. The job will take several months to complete, and Loco estimates that the company has earned 60% of the total revenue during the current year. At December 31, Loco had earned $8,000 for landscape services completed for Brimmfield Appliances. Brimmfield has stated that it will pay Loco on January 10. f. Depreciation for the current year includes Equipment, $3,600; and Trucks, $1,500. g. Loco has incurred $300 of interest expense on a $850 interest payment due on January 15. e