edus dumpe The information necessary for preparing the 2018 year-end adjusting entries for Gamecock Advertising Agency appears below. Gamecock's fiscal year-end is December 31. a. On July 1, 2018, Gamecock receives $6,000 from a customer for advertising services to be given evenly over the next 10 months. Gamecock credits Deferred Revenue. b. At the beginning of the year, Gamecock's depreciable equipment has a cost of $28,000, a four-year life, and no salvage value. The equipment is depreciated evenly (straight-line depreciation method) over the four years. c. On May 1, 2018, the company pays $4,800 for a two-year fire and liability insurance policy and debits Prepaid Insurance d. On September 1, 2018, the company borrows $20,000 from a local bank and signs a note. Principal and interest at 12% will be paid on August 31, 2019 e. At year-end there is a $2,700 debit balance in the Supplies (asset) account. Only $1,000 of supplies remains on hand. Required: Record the necessary adjusting entries on December 31, 2018. No prior adjustments have been made during 2018. (if no entry is required for a particular transaction event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 Record the adjustment for revenue earned. Note: Enter debits before credits. General Journal Debit Transaction Credit View general Journal Record entry Clear entry The following information applies to the questions displayed below! At the beginning of May, Golden Gopher Company reports a balance in Supplies of $490. On May 15, Golden Gopher purchases an additional $3.200 of supplies for cash. By the end of May, only $290 of supplies remains 1. value 0.15 points You did not receive full credit for this question in a previous attempt Required information 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No journal entry required in the first account field. View transaction list Journal entry worksheet Record the purchase of supplies. Note: Enter debits before credits. General Journal Debit Credit Date May 15 Clear entry Record entry View general Journal 8. value: 0.15 points 3. Calculate the balances after adjustment on May 31 of Supplies and Supplies Expense. Ending Balance Supplies Supplies expense