Answer for question 4?

Bramble Corporation began operations on January 2. Its year end is December 31, and it adjusts its accounts annually. Selected transactions for the current year follow: 1. On January 2, purchased supplies for $ 3,910 cash. A physical count at December 31 revealed that $ 700 of supplies were still on hand. 2. Purchased a vehicle for $ 42,500 on April 1, paying $ 5,000 cash and signing a $ 37,500 bank loan for the balance. The vehicle is estimated to have a useful life of 5 years and the company uses straight-line depreciation. The bank loan has an interestof 3%. 3. Purchased a $3,360, one-year insurance policy for cash on August 1. The policy came into effect on that date. 4. Received a $ 1,500 advance cash payment from a client on November 9 for services to be performed in the future. As at December 31, half of these services had been completed. 5. On December 1, the company rented additional office space for a six-month period starting on December 1 for $ 1,270 each month. It paid rent for the months of December and January in advance on this date. Nov. 9 Cash 1,500 1,500