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Lopez Landscaping has collected the following data for the December 31 adjusting entries: (Click the icon to view the independent cases.) Read the requirements. a.

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Lopez Landscaping has collected the following data for the December 31 adjusting entries: (Click the icon to view the independent cases.) Read the requirements. a. Each Friday, Lopez pays employees for the current week's work. The amount of the weekly payroll is $6,500 for a five-day workweek. This year December 31 falls on a Wednesday. Lopez will pay its employees on January 2. b. On January 1 of the current year, Lopez purchases an insurance policy that covers two years, $7,500 c. The beginning balance of Office Supplies was $3,700. During the year, Lopez purchased office supplies for $5,800, and at December 31 the office supplies on hand total $3,000. d. During December, Lopez designed a landscape plan and the client prepaid $6,000. Lopez recorded this amount as Unearned Revenue. The job will take several months to complete, and Lopez estimates that the company has earned 70% of the total revenue during the current year. e. At December 31, Lopez had earned $7,500 for landscape services completed for Tomball Appliances. Tomball has stated that it will pay Lopez on January 10. f. Depreciation for the current year includes Equipment, $3,800; and Trucks, $1,400. g. Lopez has incurred $250 of interest expense on a $350 interest payment due on January 15. Riest the mourestan . The beginning balance of Office Supplies was $3,700. During the year, Lopez purchased office supplies for $5,800 and at December 31 the office supplies on hand total $3,000. (Assume that Lopez debits an asset account when surnline ara nurchased.) d. During December, Lopez designed a landscape plan and the client prepaid $6,000. Lopez recorded this amount a Unearned Revenue. The job will take several months to complete, and Lopez estimates that the company has earne -ant - ctun tatal ravanula durina the current year. At December 31, Lopez had earned $7,500 for landscape services completed for Tomball Appliances. Tomball has . . apez an lanuarv 10

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