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Analyzing Accrual Accounting Adjustments The following balances for Experts Inc. were obtained from its accounting information system. Note: Round your answers to the following questions
Analyzing Accrual Accounting Adjustments The following balances for Experts Inc. were obtained from its accounting information system. Note: Round your answers to the following questions to the nearest dollar. For example, enter 50 for 50.49 and enter 51 for 50.5 . 1. If supplies expense in the income statement is $14,400, what was the cost of supplies purchased during the current year? \$ 2. Assuming no write-offs of accounts receivable, what was the cash collected on accounts receivable during the current year if revenue recognized in the income statement for the current year is $430,240 ? q 3. If salaries paid during the year were $160,000, what was salaries expense for the current year? 4. If a 6-month lease payment made in advance was $5,280, what was Lease Expense (Short-Term) for the current year? On approximately what date was the payment made
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