as a. Each Friday. Loco pays employees for the current week's work. The amount of the weekly payroll is $8,500 for a five-day workweek. This year December 31 falls on a Tuesday. Loco will pay its employees on January 3. b. On January 1 of the current year, Loco purchases an insurance policy that covers two years. $4.000 c. The beginning balance of Office Supplies was $4,100. During the year, Loco purchased office supplies for $5,900, and at December 31 the office supplies on hand total $1,200 d. During December Loco designed a landscape plan and the client prepaid $8.000. Loco recorded this amount as Uneamed Revenue. The job will take several months to complete and Loco estimates that the company has earned 40% of the total revenue during the current year e. At December 31, Loco had earned $5,500 for landscape services completed for Moving On Up Appliances Moving On Up has stated that it will pay Loco on January 10 f. Depreciation for the current year includes Equipment, $3,100 and Trucks. $1,400 g. Loco has incurred $500 of interest expense on a $900 interest payment due on January 15 wing bata for use (Click the icon to view the independent cases) Read the requirements Requirement 1. Journalize the adjusting entry needed on December 31 for each of the items affecting Loco Landscaping Assume Loco records adjusting entries only at the e Select the explanation on the last line of the journal entry table) a. Each Friday, Loco pays employees for the current week's work. The amount of the weekly payroll is $8,500 for a five-day workweek. This year December 31 falls on a Tues Date Dec 31 Accounts and Explanation Debit Credit b. On January 1 of the current year, Loco purchases an insurance policy that covers two years, $4,000. (When the policy was purchased on January 1, assume that Loco debited Date Dec 31 Accounts and Explanation Debit Credit c. The beginning balance of Office Supplies was $4.100. During the year, Loco purchased office supplies for $5,900, and at December 31 the office supplies on hand total $1,200 (Assume th when supplies are purchased) Date Dec. 31 Accounts and Explanation Debit Credit d. During December. Loco designed a landscape plan and the client prepaid $8,000 Loco recorded this amount as Uneamed Revenue. The job will take several months to complete, and Loco es earned 40% of the total revenue during the current year Date: Dec 31 Accounts and Explanation Debit Credit e. At December 31, Loco had eamed $5,500 for landscape services completed for Moving On Up Appliances Moving On Up has stated that it will pay Loco on January 10 Date: Dec 31 Accounts and Explanation Debit Credit 1. Depreciation for the current year includes Equipment. $3,100, and Trucks, $1,400. (Prepare a compound entry to record depreciation on both the equipment a Date Dec 31 Accounts and Explanation Debit Credit g. Loco has incurred $500 of interest expense on a $900 interest payment due on January 15. Date Dec. 31 Accounts and Explanation Debit Credit a. Each Friday, Loco pays employees for the current week's work. The amount of the weekly payroll is $8,500 for a five-day workweek This year December 31 falls on a 100 Journalize the subsequent journal entry that Loco will record on January 3 Date Jan 3 Accounts and Explanation Debit Credit d. During December, Loca designed a landscape plan and the client prepaid $8,000 Loco recorded this amount as Unearned Revenue. The job will take several months to complete, earned 40 percent of the total revenue during the current year. Journalize the subsequent journal entry that Loco will record when the job is complete Date Accounts and Explanation Debit Credit g. Loco has incurred $500 of interest expense on a $900 interest payment due on January 15 Joumalize the subsequent journal entry that Loco will record on January 15 Date Jan 15 Accounts and Explanation Debit Credit 1. Journalize the adjusting entry needed on December 31 for each of the items affecting Loco Landscaping. Assume Loco records adjusting entries only at the end of the year. 2. Journalize the subsequent journal entries for adjusting entries a, d, and g