Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions for April follow. Apr.1 Roulstone contributed $34,500 cash to the business in exchange for common stock. Paid $18,300 cash for the purchase of a used truck. Purchased $9,300 of ladders and other equipment; the company paid $1,000 cash, with the balance due in 30 days. Paid $8,640 cash for two-year (or 24-month) premium toward liability insurance. Purchased $3,600 of supplies on credit. Received an advance of $5,400 cash from a customer for roof repairs to be done during April and May. Billed customers $16,500 for roofing services performed. 18 Collected $14,700 cash from customers toward their accounts billed on April 12. 29 Paid $2,025 cash for truck fuel used in April. 30 Paid $300 cash for April newspaper advertising. 30 Paid $7,500 cash for assistants' wages earned. 30 Billed customers $12,000 for roofing services performed. d. Prepare journal entries to adjust the following accounts; and, e. Post the adjusting entries to the above T-accounts. Record insurance expense for April. Supplies still available on April 30 was $400. Record depreciation expense for truck for April of $375. Record depreciation expense for equipment for April of $105. One-fourth of roofing fee received April 5, was earned by April 30. General Journal Description Date Debit Credit Apr. 30 To record insurance expense. Apr. 30 To record supplies expense. Apr. 30 To record truck depreciation expense. Apr. 30 To record equipment depreciation expense. Apr. 30 To record fees earned