Austin Acoustics recorded the following transactions during October. (1) (Click the icon to viow the transactions.) Indicate it an adjusting entry is needed for each item on October 31 for the moenth of October. Assuming the aduating entry is not made, indicwe which specific category or categories of accounts on the knanciat staterents aro misstated and if they are overstated or understased. Use the following table as a guide. Item a is completed as an oxample: More info t made, indicate which specific npleted as an example: a. Received $2,500 cash from customer for three months of service beginning October 1 and ending December 31 . The company recorded a $2,500 debit to Cash and a $2,500 credit to Unearned Revenue. b. Employees are paid $3,000 on Monday following the five-day work week. October 31 is on Friday. c. The company pays $440 on October 1 for its six-month auto insurance policy. The company recorded a $440 debit to Prepaid Insurance and a $440 credit to Cash. d. The company purchased office furniture for $8,300 on January 2. The company recorded an $8,300 debit to Office Furniture and an $8,300 credit to Accounts Payable. Annual depreciation for the furniture is $1,000. e. The company began October with $50 of office supplies on hand. On October 10, the company purchased office supplies on account of $100. The company recorded a $100 debit to Office Supplies and a $100 credit to Accounts Payable. The company used $120 of office supplies during October. f. The company received its electric bill on October 31 for $325 but did not pay it until November 10. g. The company paid November's rent of $2,500 on October 30 . On October 30 , the company recorded a $2,500 debit to Rent Expense and a $2,500 credit to Cash. Print Done