Journal no. Adjustment 1 # ACCOUNT Check my work 2. Unearned items. Items that a customer has paid us for, but we have not provided the product or service. 8. Accrued expenses. Expenses that are incurred but not yet paid or recorded. 4. Accrued revenues. Revenues that have been earned but not yet collected or recorded. or more detailed information about adjusting entries, see Chapter 9. Make adjusting entries for Mookie The Beagle Coach at February 29, 2024, using the following information. Adjustment number 1 Adjustment 1: One month of liability insurance has expired as of February 29, 2024. Recall that on 02/01/2024, $1,200 was paid in advance for six months of liability insurance, and the entire amount was recorded as an expense. Adjust as appropriate. Adjustment number 2 Adjustment 2: A count of office supplies revealed $800 of supplies on hand at February 29, 2024. Recall that the entire amount for Office Supplies was expensed during the month. Adjust as appropriate. Adjustment 3: On 02/27/2024 Mookie The Beagle Coach invoiced Carlos Xafra $1,800 and recorded sales of $1,800 for an agility training class for Bella that will not occur until March. Because we are using the accrual basis, at February 29, 2024, the $1,800 amount should be recorded as Unearned Revenue since it will not be earned until the month of March. o enter an adjusting entry using the QBO Journal: 1. Select (+) New icon 2. Select Journal Entry to access the onscreen Journal 8. Enter Journal Date: 02/29/2024 4. Enter Journal Number: Adjustment 1 5. On Line 1, from the drop-down list of accounts to debit, select Account to Debit 6. Enter Debit Amount 7. On Line 2, from the drop-down list of accounts to credit, select Account to Credit 8. Enter Credit Amount B. Enter Memo D. Select Save and new Required: nswer the following questions about Mookie The Beagle Coach Adjusting Entries. 1. a. For Adjusting Entry 1, what are the Account and Amount for Debits? Journal date 02/29/2024 1 2 3 4 5 6 7 8 b. For Adjusting Entry 1, what are the account and amount for Credits? Add lines Clear all lines DEBITS CREDITS DESCRIPTION NAME Total 0.00 0.00 B 18