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help please Laughter Landscaping has colected the following data for the December taustingen (Clothewoon love the independent) Read the tourments Requirement 1. Jumatra the adjusting
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Laughter Landscaping has colected the following data for the December taustingen (Clothewoon love the independent) Read the tourments Requirement 1. Jumatra the adjusting entry needed on December 31 for each of the ora affecting Laughter Landscaping, Asume Laughter records austing entries only at the end of the year of the orde planation on the last line of the journal entry) Each Friday, Laughter pays employees for the current week's work. The amount of the weekly payroll is $8.500 for a five-day work. Tha yew December 31 fate on Tuesday Laughter will pay its employees on January Date Accounts and Explanation Debit Credit Dec 31 a. Each Friday, Laughter pays employees for the current week's work. The amount of the weekly payroll is $5,500 for a five-day workweek. This year December 31 falls on a Tuesday. Laughter will pay its employees on January 3. b. On January 1 of the current year, Laughter purchases an insurance policy that covers two years, $10,000 C. The beginning balance of Office Supplies was $4,200. During the year, Laughter purchased office supplies for $5,800, and at December 31 the office supplies on hand total $2,300. d. During December, Laughter designed a landscape plan and the client prepaid $6,000. Laughter recorded this amount as Unearned Revenue. The job will take several months to complete, and Laughter estimates that the company has earned 50% of the total revenue during the current year. At Decembe [ 31, Laughter had earned $2,500 for landscape services completed for Move In Appliances. Move In has stated that it will pay Laughter on January 10. f. Depreciation for the current year includes Equipment, $3,000; and Trucks, $1,500. g. Laughter has incurred $900 of interest expense on a $1,150 interest payment due on January 15. e Step by Step Solution
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