Question 1: Complete the worksheet in its entirety including all adjustments given and all columnns, totals, and calculation for Net Income or Net Loss. a) Office Supplies on hand as of August 31 is $150 b) Spa Supplies used this period is $320. c) Insurance policy is for 12 months. Record one month of expired insurance. d - e) A physical count of the product inventory on August 31 yielded $2,480. f) Depreciate the Spa Equipment for one month using the 150% declining balance method. Estimated life is 5 years. g) Record the estimate for bad debt using the percent of credit sales method at 1.5% of credit sales. Total sales for the month was $10,120 of which $5,750 were cash sales and $4,370 were on account sale

Accounts Receivable 15,513.00 Accounts Payable Sales Tax Payable Sales Retums and Allowances Purchases Discounts Purchases Returns and Allowances 109,601.27 1