1. Accrual Based Accounting Adjusting Journal Entries (AJEs): On April 1^st, 2019, Moving On, Inc. has a $830 beginning balance in the Supplies account. On May 5^th, 2019, Moving On purchases an additional $1,765 worth of supplies, paying cash. At the end of the quarter, June 30^th, 2019, only $690 worth of supplies remain.
   1. Record the journal entry Moving On would make on May 5^th 2019 when it purchases the $1,765 worth of supplies.
   2. record the adjusting entry Moving On would make to recognize Supplies Expense on June 30^th 2019. Assume Moving On uses a quarterly accounting period which ends on June 30th 2019 and adjusting entries are only made at the end of the quarterly accounting period on 6/30 (i.e. assume no adjusting entries have been recorded yet for the quarter).
   3. Calculate the adjusted balances of both the Supplies account and the Supplies Expense account as of 6/30/2019. Assume the balance of the Supplies account as of 4/1/2019 was $830 (as given above) and the balance of the Supplies Expense account was $0 as of 4/1/2019 and there are no other transactions.
   4. What if Moving On did not make the adjusting entry on 6/30/2019 to recognize Supplies Expense? Indicate by how much the second quarter ending 6/30/2019s 1) assets, 2) liabilities, 3) revenues, 4) expenses, 5) net income, 6) retained earnings, and 7) SHE would be either under- or overstated if this adjusting entry were not recorded. If no effect, write no effect.