ACCT203-IP3-Adjusting Entries- Student Template 1. Create journal entries for the following adjustment entries: M. Received $1,500 cash from a customer for 3 months of service. Performed one month of service. Make an entry to recognize one 1/3 of the revenue. N. Employees are paid $2,250 every Friday for a 5-day work week. April 30, 2021 is a Wednesday. (2250/5)(3) O. Record use of 1 month's prepaid auto insurance ( $900 for 3 months). P. On April 30, 2021, the supplies on hand is $45 (On April 1, 2021 it was $350 ). Q, Depreciation for the current month includes equipment ($750) and trucks ($450). Make a compound entry. A compound entry is one that affects more than two accounts. Page 1 of 8 2. Post the transaction to the ledger. Your general ledger cash balance uses a full ledger sheet; use the T Chart for all other accounts. (Transactions a-I are from IP2. However, amounts have been changed.) Equipment Bal 17,500 Bal. Page 2 of 7 Page 3 of 7 3. Prepare the adjusted trial balance of Colorado Service Center at April 30, 2021. ACCT203-IP3-Adjusting Entries- Student Template 1. Create journal entries for the following adjustment entries: M. Received $1,500 cash from a customer for 3 months of service. Performed one month of service. Make an entry to recognize one 1/3 of the revenue. N. Employees are paid $2,250 every Friday for a 5-day work week. April 30, 2021 is a Wednesday. (2250/5)(3) O. Record use of 1 month's prepaid auto insurance ( $900 for 3 months). P. On April 30, 2021, the supplies on hand is $45 (On April 1, 2021 it was $350 ). Q, Depreciation for the current month includes equipment ($750) and trucks ($450). Make a compound entry. A compound entry is one that affects more than two accounts. Page 1 of 8 2. Post the transaction to the ledger. Your general ledger cash balance uses a full ledger sheet; use the T Chart for all other accounts. (Transactions a-I are from IP2. However, amounts have been changed.) Equipment Bal 17,500 Bal. Page 2 of 7 Page 3 of 7 3. Prepare the adjusted trial balance of Colorado Service Center at April 30, 2021