(grearly appreciated thank you so much)

a)

b)

Pain-Free Dental Group Inc. purchased dental supplies of $17,740 during the year. At the end of the year, a physical count of supplies showed $3,735 of supplies on hand. Required: 1. Prepare the adjusting entry needed at the end of the year. Dec. 31 (Record the use of supplies) 2. What is the amount of supplies reported on Pain-Free's statement of financial position at the end of the year? What is the amount of supplies expense reported on the income statement? In December 2022, Liang Ltd. receives a cash payment of $3,000 for services performed in December 2022 and a cash payment of $4,000 for services to be performed in January 2023. Liang also receives the December utility bill for $500 but doe not pay this bill until 2023. For December 2022, under the accrual basis of accounting, Liang would recognize: a. $3,000 of revenue and $0 of expense. b. $7,000 of revenue and 50 of expense. c. $7,000 of revenue and $300 of expense. d. $3,000 of revenue and $500 of expense