Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions for April follow. Apr 1 Roulstone contributed $11.500 cash to the business in exchange for common stock. 2 Paid 56,100 cash for the purchase of a used truck. 2 Purchased 53.100 of ladders and other equipment the company paid $1.000 cash with the balance due in 30 days. 3 Paid $2,880 cash for two-year (or 24-month) premium toward liability insurance. 5 Purchased $1,200 of supplies on credit. 5 Received an advance of $1,800 cash from a customer for roof repairs to be done during April and May. 12 Billed customers 55,500 for roofing services performed 18 Collected 54,900 cash from customers toward their accounts billed on April 12 29 Paid 5675 cash for truck fuel used in April 30 Paid $100 cash for April newspaper advertisine 30 Paid $2.500 cash for assistants' wages earned. 30 Billed customers 54.000 for roofing services performed. Using the following accounts: Cash; Accounts Receivable; Supplies: Prepaid Insurance: Trucks: Accumulated Depreciation Trucks, Equipment; Accumulated Depreciation Equipment Accounts Payable; Unearned Roofing Fees: Common Stock: Roofing Fees Earned; Fuel Expense; Advertising Expense; Wages Expense; Insurance Expense; Supplies Expense; Depreciation Expense Trucks; and Depreciation Expense-Equipment b. Record these transactions for April using journal entries. General Journal Date Description Apr. 1 Credit Owner invested cash. Apr. 2 Purchased truck. Apr. 2 Cash Purchased equipment. Apr. 3 Purchased liability insurance. Apr. 5 Purchased supplies Apr. 5 Received advanced payment for repair work. Apr. 12 SO Billed for services performed. Purchased liability insurance. Apr. 5 Purchased supplies Apr. 5 Received advanced payment for repair work. Apr. 12 Billed for services performed. Apr. 18 . Collected from customers billed on April 12. Apr. 29 Paid for April fuel expense. Apr. 30 Paid for April newspaper advertising. Apr. 30 Paid wages. Apr. 30 Recorded fees earned. c. Post the journal entries from part b. to their T-accounts. Enter transactions in the T-accounts in the order they appear using the first available answer box on the appropriate side of the T-account. Accounts Receivable Cash ELLE Supplies Prepaid Insurance Trucks Equipment Accumulated Depreciation - Equipment Accumulated Depreciation - Trucks Accounts Payable Unearned Roofing Fees Common Stock Roofing Fees Earned Depreciation Expense - Trucks Trucks Equipment Accumulated Depreciation - Equipment Accumulated Depreciation - Trucks Accounts Payable Unearned Roofing Fees Common Stock Roofing Fees Earned Depreciation Expense - Trucks Fuel Expense Advertising Expense Depreciation Expense - Equipment Wages Expense Supplies Expense Insurance Expense d. Prepare journal entries to adjust the following accounts, and; e. Post the adjusting journal entries to the above T-accounts. Record insurance expense for April. Supplies still available on April 30 was $400. Record depreciation expense of $125 for truck for April. Record depreciation expense of $35 for equipment for April. One-fourth of roofing fee received April 5, was earned by April 30. General Journal Description Debit Credit Date Apr. 30 To record Insurance expense. Apr. 30 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