December $31$ One month of the $12-$month, $$4,020$ insurance policy is expired by December $31.$ This leaves $$3,685$ not yet expired. December $31$ A physical count of supplies on December $31$ shows that only $$1,235$ of supplies remain of the $$2,070$ supplies purchased.

December $31$ The $$6,840$ of equipment purchased at the beginning of December has a useful life of $5$ years and will be worth nothing $.$at the end of $5$ years $(60$ months$).$ The business uses straight$-$line depreciation to allocate the $$6,840$ net cost over $60$ months. On December $31,1$ month of depreciation must be recorded.

December $31$ The business agreed on December $23$ to provide a $4-$week training service to a customer for a fixed fee of $$1,740$ paid in advance. By December $31,$ the business has provided $1$ of the $4$ weeks of services and earned one$-$fourth of the fee. No revenue is yet recorded.

December $31$ On December $31,$ wages of $$635$ are owed to a part$-$time employee for work done over the past $3$ weeks. Those wages are not yet paid or recorded.

December $31$ The business agreed to provide $6$ weeks of training services to a customer for a fee of $$4,410,$ or $$735$ per week. The customer agrees to pay the full $$4,410$ at the end of $6$ weeks when services are complete. By December $31,2$ weeks of services have been provided, but the business has not yet billed the customer or recorded the $2$ weeks of services provided.

$\backslash$table$[[$Requirement$,\backslash$table$[[$General$],[$Journal$]],\backslash$table$[[$General$],[$Ledger$]],$Trial Balance,$\backslash$table$[[$Income$],[$Statement$]],\backslash$table$[[$St Retained$],[$Earnings$]],$Balance Sheet,Post Closing$]]$

General Journal tab $-$ Prepare journal entries for the first month of operations. Prepare any necessary adjusting and closing entries for the current month.

General Ledger tab $-$ Each journal entry is posted automatically to the general ledger. Use the drop$-$down button to view the unadjusted, adjusted, or post$-$closing balances.

Trial Balance tab $-$ You may view the unadjusted, adjusted, or post$-$closing trial balances by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs$.$

Income statement tab$-$Use the drop$-$downs to select the accounts properly included on the income statement.

The unadjusted, adjusted or post$-$closing balances will appear for each account, based on your selection.

Statement of Retained Earnings tab $-$ The unadjusted, adjusted or post$-$closing balances will appear for each account, based on your selection.