prepare journal entries and also prepare adjusting journal entries in two separate journals.

Blossom \& Associates began operations on January 1, 2024. Its fiscal year end is December 31 and it prepares financial and adjusts its accounts annually. Selected transactions for 2024 follow: 1. On January 10, bought office supplies for $3,300 cash. A physical count at December 31,2024 , revealed $850 of supplies still on hand. 2. Paid cash for a $14.340, one-year insurance policy on February 1. The policy came into effect on this date. 3. On March 31. purchased equipment for $20,928 cash. The equipment has an estimated eight-year useful life. 4. Rented office space on September 1 for a one-year period for $450 per month. Paid annual rent of $5,400 in cash. 5. On October 15, received a $1,815 advance cash payment from a client for accounting services expected to beprovided in the future. As at December 31, one-third of these services had not been performed. 6. On November 1. rented out unneeded office space for a six-month period starting on this date. and received a $1.680 cheque for the first three months rent