irst month of operation Jack transactions in the months of November and December 2019 for Saunders Trucking. On the next page, record each transaction in the general journal using journal entri Descriptions are not required. Entered into a contract with a client for three months of delivery services beginning November1.The client paid $6,000 for all three months today Received $300 from a client for services billed last month. Performed delivery services and billed a client $5,000. Paid the monthly telephone bill,$650. Paid the monthly utility bill,$260. Paid for the packing supplies purchased last month,$1,600. Paid the assistant's salary,$1900. Nov 1 15 18 23 30 Dec 4 Received $1500 from a client on account. Purchased packing supplies on account,$3,200. Received $2,600 cash from a client for delivery services. Paid for the monthly telephone and utility bill,$200 and $340 respectively 15 22 31 British Columbia Ens PHGT 1100-AE C. ADJUSTING JOURNAL ENTRIES (14 Marks) The unadjusted trial balance of DarcyConsulting Services at December 31, 2019 follows Credit Debit $4,800 10,400 2,000 1,000 400 16,500 Cash Accounts receivable Prepaid insurance Prepaid rent Office supplies Equipment Accumulated depreciation Salaries payable Interest payable Unearned service revenue $2,400 600 3,000 Ted Darcy, drawings Service revenue Salaries expense Depreciation expense Rent expense Insurance expense Office supplies expense Interest expense 32,700 20,500 300 $58,900 $58,900 Given the following information above, on the next page prepare the necessary a end, December 31, 2019, for Darcy Consulting Services. a) A count revealed that $100 of office supplies were still on hand at December b) The accountant has determined that the prepaid insurance balance at Decer- the amount of $450. he equipment is depreciated at the rate of $200 per month. The accountant has determined that the unearned service revenue balance should be in the amount of $350. e) Interest of $200 on the note payable has accrued to the end of the year. Salaries accrued at December 31, 2019, amounted to $650. g The accountant has determined that the prepaid rent balance at Decemb amount of $100. On the next page, record each transaction in the general journal using journal entri Descriptions are not required. Entered into a contract with a client for three months of delivery services beginning November1.The client paid $6,000 for all three months today. Nov 1 Received $300 from a client for services billed last month. Performed delivery services and billed a client $5,000. Paid the monthly telephone bill,$650. Paid the monthly utility bill,$260. Paid for the packing supplies purchased last month,$1,600. Paid the assistant's salary,$1900. Received $1500 from a client on account. 5 15 18 23 30 Dec 4 15 Purchased packing supplies on account,$3,200. Received $2,600 cash from a client for delivery services. Paid for the monthly telephone and utility bill,$200 and $340 respectively 22 31 Scott Lee and Associates (a proprietorship) on December 31, 2019. Please include the appropriate descriptions of each closing journal entry. (12 marks) D. CLOSING JOURNAL ENTRIES (14 Marks) Based on the following adjusted trial balance, on the next pageprepare the closing journal entries for Scott Lee and Associates Adjusted Trial Balance December 31, 2019 Credit Debit Cash Accounts receivable Office supplies Prepaid insurance Equipment Accumulated Depreciation, $13,600 2,000 700 1,200 15,600 Equipment Accounts payable Salary payable Unearned service revenue $3,900 6,800 1,100 800 Scott Lee, capital Scott Lee, drawings Service revenue 22,900 4,900 Advertising expense Depreciation expense Supplies expense 9,250 1,400 1,300 500 Insurance expense 650 Utilities expense 2,900 $44,750 Total $44,750