a. Office Supplies used during the month, $800. b. Depreciation for the month, $240. c. One month insurance has expired. d. Acorued Interest Expense, $60. More info Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Land; Equipment; Accumulated Depreciation-Equipment; Accounts Payable; Utilitis Payable; Interest Payable; Unearned Revenue; Notes Payable; Common Stock; Retained Earnings; Dividends; Income Summary; Service Revenue; Salaries Expense; Rent Expense; Utilities Expense; Advertising Expense; Supplies Expense; Insurance Expense; Interest Expense; and Depreciation Expense-Equipment. Requirements 1. Prepare the journal entries, and post to the T-accounts. 2. Prepare an unadjusted trial balance. 3. Prepare the adjusting entries, and post to the T-accounts. 4. Prepare an adjusted trial balance. 5. Complete the worksheet for the month ended December 31,2024 6. Prepare the income statement, the statement of retained earnings, and the classified balance sheet in report form. 7. Prepare the closing entries, and post to the T-accounts. 8. Prepare a post-closing trial balance. On December 1, Al Williamson began an auto repair shop, Williamson's Quality Automotive. The following transactions occurred during December: (Click the icon to view the transactions.) The business uses the (Click the icon to vie Adjustment data: (Click the icon to vie Read the requirements. Requirement 1. Prepare the journal entries, and post to the T-accounts. Begin by preparing the journal entries for the December transactions. (Record debits first, then credits. Select the explanation on the Dec. 1: Williamson contributed $63,000 cash to the business in exchange for shares of common stock. More info Dec. 1 Williamson contributed $63,000 cash to the business in exchange for shares of common stock. Dec. 1 Purchased $14,400 of equipment paying cash. Dec. 1 Paid $1,350 for a three-month insurance policy starting on December 1. Dec. 9 Paid $18,000 cash to purchase land to betised in operations. Dec. 10 Purchased office supplies on account, $1,600. Dec. 19 Borrowed $27,000 from the bank for business use. Williamson signed a note payable to the bank in the name of the corporation. The note is due in five years. Dec. 22 Paid $900 for advertising expenses. Dec. 26 Paid $300 on account. Dec. 28 The business received a bill for utilities to be paid in January, $300. Dec. 31 Revenues earned during the month included $14,000 cash and $2,400 on account. Dec. 31 Paid employees' salaries $4,000 and building rent $500. Record as a compound entry. Dec. 31 The business received $980 for auto screening services to be performed next month. Dec. 31 Paid cash dividends of $4,000 to stockholders