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 Started work for Telo Dec. 31 Year-End Heigned Worktor Tela Purchased Insurance Dec 1 Dec 7 Dec 13 Dec 24 Jars Jan 12 Purchased Supplies Received Cash Advance Wages 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 By Workers b End Supplies Remaining at Year-End: $700 ing at Year-End Wages Earned By Workers but not yet Paid at Year- End Wages Earned By Workers but not yet Paid at Year-End: $500 1. Record the journal entries required for December, excluding the December 31 year-end adjusting entries. 2. Record the December 31 year-end adjusting entries for (a) prepaid insurance, (b) supplies, (c) accrued wages, (d) accrued revenue. and (e) unearned revenue. 3. Record the journal entries required for January Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Record the journal entries required for December, excluding the December 31 year-end adjusting entries, cr no entry is required for a transaction/event, select "No Journal entry required in the first account field. View transaction list Journal entry worksheet 1 2 3 4 Record the purchase of insurance coverage. Not Enter debts before credits Debit Credit Date Goneral Journal ec 1 Dec 7 Dec 13 Dec 24 Jan 5 December 1 Prepaid a 24 month insurance policy (coverage starting immediately) for $2,400 cash. Purchased Supplies Received Cash In Advance Wages Paid Det Dec 7 Keep Only 0 Exclude December 7 Purchased supplies for $2,000 cash. Purchased Supplies Received Cash in Advance Additional Information as of D. na 1 har 2 nor 24 lans lan 1 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 ec 13) Dec 24 Jari 5 Jan 12) December 24 Received $4,000 cash in advance to perform work for ABX over the next four weeks. Received Cash in Advance Wages Paid onal Information as of December 31 Jan 1,5 Jan 12 January 5 Paid wages of $800 cash to workers. $ ance Wages Paid Dec 24 Jan 5 Jan 2 January 12 Received $10,000 cash from Telo for work performed over the last 30 days. Received Cash in Advance Wages Paid
