Problem 4-3: Journalize the following adjusting entries. a. The Jeff Watkins Firm purchased a large machine at a cost of $125,000. The machine is expected to last 10 years and has a residual value of $5,000. Give the entry to record $12,000 yearly depreciation. The Office Supplies account had a beginning balance of $775. Purchases totaling $1,225 were made during the year. A year-end inventory revealed that $600 of Office Supplies was on hand at the end of the year. Services in the amount of $1,300 were rendered but not due to receive payment yet. Prepare the entry to record the revenue. The weekly salaried payroll is $5,000. Tuesday, December 31, 20XX is the end of the fiscal year. Prepare the adjusting entry to record the Salary Expense. d. , Problem 4-4: Listed below are the transactions for the June 1 ons for the Charlene Alston Hair Salon. Owner, Charlene Alston, invested $35,000 cash and beauty equipment valued at $20,000. Paid 3 months' rent, $1,500. Did hour show and earned $5,000. Provided services to a social agency for children on account. Purchased beauty supplies, $650. 10 children on account, $1,340. 13 20 Required 1. Open the following ledger accounts: Cash (101) C. Alston, Capital (301) Accounts Receivable (102) Beauty Revenue (401) Beauty Supplies (106) Beauty Supplies Expense (500 Prepaid Rent (108) Rent Expense (508) Beauty Equipment (110) Accumulated Depreciation, Beauty Equipment (111) Depreciation Expense, Beauty Equipment (510) 2. Journalize and post the transactions. 3. Prepare a trial balance. 4. Journalize and post the following adjustments. a. $500 of Prepaid Rent has been used. b. Beauty Supplies account balance is $200. c. Depreciation on beauty equipment is $3,000. 5. Prepare an adjusted trial balance