Check my Tableau DA 3-1: Quick Study, Preparing adjusting entries LO P1, P2 Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work. Selected December-January Transactions Purchased Insurance Started Work for Telo Dec. 31 Year-End Finished Work for Telo Dec 1 Dec 7 Dec 13 Dec 24 Jan 5 Jan 12 Purchased Supplies Received Cash in Advance Woes Paid Additional Information as of December 31 Telo Job Completion at Year-End ABX Job Completion at Year-End Purchased Supplies Received Cash in Advance Wages Paid Additional Information as of December 31 Telo Job Completion at Year-End ABX Job Completion at Year-End Telo 60% Complete ABX 25% Complete Supplies Remaining at Year-End Wages Earned By Workers but not yet Paid at Year: End Supplies Remaining at Year-End Wages Earned Supplies Remaining at Year-End: $700 tableau ad Wages Earned By Workers but not yet Paid at Year- End Wages Earned By Workers but not yet Paid at Year-End: $500 TO 1. Record (a) the prepayment of insurance on December 1 and (b) the adjusting Journal entry for prepald Insurance on December 31. 2. Record(a) the advance payment from ABX and (b) the adjusting Journal entry to uneared revenue on December 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Record (a) the prepayment of insurance on December 1 and (b) the adjusting Journal entry for prepaid insurance on December 31. Vlow transaction list Journal entry worksheet Record the purchase of insurance coverage. Note: Enter dit before credits General Journal Debit Credit Date Dec 01 Dec 1 Dec 7 Dec 13 Dec 24 Jari 5 December 1 Prepaid a 24 month insurance policy (coverage starting immediately) for $2,400 cash. Purchased Supplies Received cash in Advance Wages Paid leto Dec MAA 1 December 7 Purchased supplies for $2,000 cash. Dec 1 Dec 7 Dec 3 Dec 24 Jan 5 Jan 12 December 13 Agreed to do $10,000 worth of work for Telo over the next 30 days. Payment is to be received when the work is completed on Jan. 12. Purchased Supplies Received Cash in Advance Wages Paid Dec 13 De 24 Jan 5 Jan 12 December 24 Received $4,000 cash in advance to perform work for ABX over the next four weeks. plies Received cash in Advance Wages Paid Jaf.5 Jan 12 January 5 Paid wages of $800 cash to workers. Avance Wages Paid Dec 13 Dec 24 Jan 5 Jan 12 January 12 Received $10,000 cash from Telo for work performed over the last 30 days. dies Received cash in Advance Wages Paid ditional Information as of December 31
