Leon Problem 2. Inventory valuation - FIFO, UFO, Averapa cont proches ? poimet Puchos and the end the party perut ca u sed ning s tory and cost of goods sold (COGS the FIFO cest auto esonde re dierondadores b DOGS and a g us Coussy LiPo Ceay later pour anses hare cassery Denty and the song nesty and cost of us od 0063) say the verage cost metod Cary rases and state con sus sending inentury and which are so Question 16 (14 points) Problem 1. Adjusting entries (14 points). Prepare year-end adjusting entries for the following transactions. The company's el Omit explanations. Clearly indicate which was the names and amounts, to receive full credit just us in the le a d your answer in 1. 2. 3.format. e 1. Accrued interest on notes receivable is $300 2. $1,000 of unearned revenues have been camed. 3. On July 1, three years' of Insurance, totaling $42.000, waspadin en 4. Services totaling $2,900 had been performed but not yet be o 5. Depreciation on equipment totaled $6,500 for the year y o 6. Beginning Balance of Supplies was $400 Sople purchased t supplies remained 7. Employees are paid each Friday in De amount of 6500 tora Say Wednesday Leon Problem 2. Inventory valuation - FIFO, UFO, Averapa cont proches ? poimet Puchos and the end the party perut ca u sed ning s tory and cost of goods sold (COGS the FIFO cest auto esonde re dierondadores b DOGS and a g us Coussy LiPo Ceay later pour anses hare cassery Denty and the song nesty and cost of us od 0063) say the verage cost metod Cary rases and state con sus sending inentury and which are so Question 16 (14 points) Problem 1. Adjusting entries (14 points). Prepare year-end adjusting entries for the following transactions. The company's el Omit explanations. Clearly indicate which was the names and amounts, to receive full credit just us in the le a d your answer in 1. 2. 3.format. e 1. Accrued interest on notes receivable is $300 2. $1,000 of unearned revenues have been camed. 3. On July 1, three years' of Insurance, totaling $42.000, waspadin en 4. Services totaling $2,900 had been performed but not yet be o 5. Depreciation on equipment totaled $6,500 for the year y o 6. Beginning Balance of Supplies was $400 Sople purchased t supplies remained 7. Employees are paid each Friday in De amount of 6500 tora Say Wednesday