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Please provide solutions and explanations to get. Thank you. 1-3 questions are based from the chart below. Use the following information to answer questions 1

Please provide solutions and explanations to get. Thank you.

1-3 questions are based from the chart below.

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Use the following information to answer questions 1 - 3: The Trial Balance for LSCG Company appears as follows: LSCG Company Trial Balance December 31, 2020 Debit Credit Cash 20,000 Accounts Receivable 50,000 Prepaid Insurance 10.000 Supplies 10,000 Office Equipment 30,000 Accumulated Depreciation - Office Equipment 10,000 Accounts Payable 30,000 Gian Lee, Capital 60,000 Service Revenue Earned 60,000 Salaries Expense 20,000 Rent Expense 20,000 Totals P 160,000 P 160,000 1. If on December 31, 2020, supplies on hand were P1,000, the adjusting entry would contain a: * O A. Debit to Supplies Expense for P1,000 O B. Credit to Supplies Expense for P1,000 O C. Debit to Supplies Expense for P9,000 O D. Credit to Supplies Expense for P9,000 This is a required question2. If on December 31, 2020, the trial balance showed insurance still unexpired amounting to P2,000, the adjusting entry would contain a: * O A. Debit to Prepaid Insurance for P8,000 B. Credit to Prepaid Insurance for P8,000 P2000 D. Credit to Prepaid Insurance for O C. Debit to Insurance Expense for O P2,000 3. If services totaling P10,000 had been performed but not billed, the adjusting entry to record this would include a: * O A. Debit to Service Revenue Earned for P10,000 B. Credit to Unearned Service Revenue for P10,000 C. Credit to Service Revenue Earned for P70,000 D. Credit to Service Revenue Earned for P10,000

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