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Adjustment dars a. Accrued Salaries Expense, $800. b. Depreciation was reconded on the track using the straight-ine method. Assume a usefal life of five years and a salvage value of $3,000 c Prepaid Insursnce for the month has expired d. Office Supplies on hand, $450 e. Unearned Revenue earned during the monch, 570 tAccrund Service Revenge, $450 6 Prepare an adsusted trial halance ss of December 31, 2018 1 Pspare Moarphs Delivery Service's income statemene and statement of etained nie for the month ended December 31, 2018, and the clasified halance Shee gthatdse On the incoee stanemon, list experses in deceeasing onder by amoun-his thejrgt epense S, the smailese epetie last 8. kounaline the dosfng and pos so the Tacpns 9. Prepare a poscing md bce a of December 31, 318 Murphy Delivery Service completed the following transactions during December 2018: Murphy Delivery Service began operations by receiving $13,000 cash and a truck with a fair value of $9,000 from Russ Murphy. The business issued Murphy shares of common stock in exchange for this contribution. Dec. 1 Paid $600 cash for a six-month insurance policy. The policy begins December 1. 1 Paid $750 cash for office supplies. 4 Performed delivery services for a customer and received $2,200 cash. 15 Completed a large delivery job, billed the customer, $3,300, and received a promise to collect the $3,300 within one week. Paid employee salary, $800. $7,000 cash for performing delivery services Collected $2/200 in advance for delivery service to be performed later. Collected $3,300 cash from gustomer on account. 201 12 18 Received 20 22 25 Purchased fuel for the truck, paying $150 on account. (Credit Accounts Payable) Performed delivery services on acco Paid office rent, $1,400, for the month 27 count, $1,400. ot December. 28 29 Paid $150 on account. 30 Cash dividends of $2,500 were paid to stockholders 31 Requirements 1. Record each transaction in the journal using the following chart of accounts. Explanations are not required. Retained Earnings Cash Accounts Receivable Dividends Office Supplies Income Summary Service Revenue Prepaid Insurance Salaries Expense Truck Accumulated Depreciation-Truck Depreciation Expense-Truck Accounts Payable Salaries Payable Insurance Expense Fuel Expense Unearned Revenue Rent Expense Common Stock Supplies Expense 2. Post the transactions in the T-accounts. 3. Prepare an unadjusted trial balance as of December 31, 2018. 4. Prepare a worksheet as of December 31, 2018 (optional). 5. Journalize the adjusting entries using the following adjustment data and also by reviewing the journal entries prepared in Requirement 1. Post adjusting entries to the T-accounts Co Adjustment data: a. Accrued Salaries Expense, $800. b. Depreciation was recorded on the truck using the straight-line method. Assume a useful life of five years and a salvage value of $3,000. Prepaid Insurance for the month has expired. d. Office Supplies on hand, $450. e. Unearned Revenue earned during the month, $700. C. f. Accrued Service Revenue, $450. 6. Prepare an adjusted trial balance as of December 31, 2018 7. Prepare Murphy Delivery Service's income statement and statement of retained earnings for the month ended December 31, 2018, and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amount-that is, the largest expense first, the smallest expense last 8. Journalize the closing entries, and post to the T accounts. 9. Prepare a post-closing trial balance as of December 31, 2018