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Exercise 4-8 (Part Level Submission) Tim Sheridan started Sheridan Roof Repairs on April 2, 2017, by investing $4,300 cash in the business. During April, the
Exercise 4-8 (Part Level Submission) Tim Sheridan started Sheridan Roof Repairs on April 2, 2017, by investing $4,300 cash in the business. During April, the following transactions occurred: Apr. 6 Purchased supplies for $1,500 cash. 15 Repaired a roof for a customer and collected $1,100 cash. 25 Received $2,350 cash in advance from a customer for roof repairs to his house and garage. On April 30, 2017, the following information was available: 1. Earned but unbilled revenue at April 30 was $850. 2. There is $650 of supplies on hand. 3. Of the $2,350 received on April 25, the company has earned $800 by completing repairs to the garage roof. Journalize and post any required adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Apr. 30 (To accrue revenue earned but not billed or collected) Apr. 30 (To record supplies used) Apr. 30 (To record revenue for services provided) Cash Apr. 2 4,300 Apr. 6 1,500 Apr. 15 1,100 Apr. 25 2,350 Accounts Receivable Supplies Apr. 6 1,500 Unearned Revenue Apr. 25 2,350 V Service Revenue Apr. 15 1,100 Supplies Expense V Tim Sheridan, Capital Apr. 2 4,300
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