Hence Landscaping commenced its business on January 1, 20X1. ed k 1. During its first year of operations, Hentzel purchased supplies in the amount of $12,000 (debited to Supplies inventory), and of this amount, $3,000 were unused as of December 31, 20X1. 2. On March 1, 20X1. Hentzel received $18,000 for landscaping services to be rendered for 18 months (beginning July 1, 20x1). This amount was credited to a liability called Deferred landscaping revenue. 3. The company's gasoline bill for $2,500 for the month of December 20X1 was not received until January 15, 20x2. No entry was made. 4. The company borrowed $50,000 from Home Town Financing on April 1, 20X1, at a 5% interest rate per annum. It credited a liability for notes payable. The principal, along with all the interest, is due on April 1, 20x2. 5. On January 1, 20x1, the company purchased 10 lawnmowers at $3,000 each. It debited fixed assets. The lawnmowers are expected to last for three years with no salvage value. 1 nces On December 31, 20X1, Hentzel did not record pny adjusting entries with respect to these transactions