Prepare the adjusting journal entries

Bill's Boards (BB) is an outdoor advertising company founded by William Longfall William knows very little accounting so he hired a friend to keep the books. Unfortunately, William did not review his friend's work and now it seems his friend has made a mess of the accounting records William has provided you the following list of unadjusted account balances at BB September 30 fiscal year-end. You have reviewed the balances with William and made notes shown in the night column Account Name Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Revenue BILL'S BOARDS Unadjusted Trial Balance At September 30 Debits Credits Notes $ 17,900 This balance equals the balance reported by the bank. 1,520 A customer ordered $1,520 of advertising services to be provided in October. The accountant recorded this service by debiting Accounts Receivable and crediting Service Revenue 1,040 Starting January 1, 38 agreed to pay $1,560 cash to rent the land on which its billboards are located, for the January-December period. The accountant adjusted this account on April 30 but has not adjusted it since. BB still has supplies costing $318 on hand on September 30. 7,660 BB bought scaffolding and billboards in October last year. $0 Because the equipment was bought at the beginning of the fiscal year, no depreciation is carried forward from prior years. 2,710 B8 purchased and received $2,710 of supplies used for creating advertising displays. The supplier is to be paid in October. 1,380 This balance relates to $1,389 cash paid by a customer in August for advertising from September 1 - November 30. BB employees are still waiting to be paid for the last half of September. 320 BB hasn't paid the $320 tax owed from the last fiscal year. 1,510 BB has issued 3,010 shares for $1,510 cash. 5,720 BB started business a few years ago, so this is the total accumulated earnings up to October 1 of last year. 68,250 BB has provided $3,010 of services for which it hasn't yet billed customers or recorded in its accounting records. 47,000 B8 employees earn $5,000 per month. The employees were paid in full on August 31, and were paid again on September 15. About $1,400 of the usefulness of the equipment's 57,600 cost has been used up during the current fiscal year. 520 BB Incurs all cost to rent the land on which its billboards are located. Rent for the current year has been paid in full. 4,319 BB accountant expensed $4,310 of supplies purchased during the year because he assumed the supplies would be completely used by year end. As noted above, he was wrong. 88 tax rate is 20% of income before tax. $ 79,890 $ 79,890 Salaries and Wages Payable Income Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Depreciation Expense Rent Expense Supplies Expense Income Tax Expense Totals 1 Record the entry to fix the premature recording of advertising revenue. 2 Record the entry to update the rent accounts. IS 3 Record the depreciation on equipment for the period. 4 Record the entry to update deferred revenue. 5 Record the entry to accrue revenue not yet billed. \ 6 Record the entry to accrue unpaid wages. 7 Record the entry to correct the supplies accounts. advertising revenue. 2 Record the entry to update the rent accounts. 3 Record the depreciation on equipment for the period. 4 Record the entry to update deferred revenue. 5 Record the entry to accrue revenue not yet billed. 6 Record the entry to accrue unpaid wages. 7 Record the entry to correct the supplies accounts. 8 Record the entry to accrue income taxes for the year