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On 11/1, we started a lawn care business and purchased $350 of supplies. When the company had to prepare Financial Statements on 12/31, the company

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On 11/1, we started a lawn care business and purchased $350 of supplies. When the company had to prepare Financial Statements on 12/31, the company had used $125 of the supplies. Record the original entry for the purchase of the supplies. Then prepare the adjustment (2 entries). This is an example of a thic On 11/20, the lawn care business was paid $225 in advance to do landscaping. By 12/31, the company had done 2/3 of the work. $225 X 2/3 $150. Record the original entry and the adjustment (2 entries) This is an example of a On 11/2, the lawn, care business began a project that will take 3 months to complete and will pay $400 a month. It is now 12/31, and they have earned $800 (400x2), but they will not be paid until the end of January. Record the adjustment. (1 entry) This is an example of a of On 12/24, the lawn care business hired an extra employee to be paid $700 in 2 weeks. On 12/31, when the financial statements are prepared, the company owes him $350. Record the adjustment (1 entry) This is an example of a

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