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Question 3 (10 marks: 30 minutes) Griswold Inc adjusts its books yearly in the General Journal, record adjusting entries for the following items at December

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Question 3 (10 marks: 30 minutes) Griswold Inc adjusts its books yearly in the General Journal, record adjusting entries for the following items at December 31, 2021 a) on January 3, 2021,$5,500 of supplies were purchased and recorded as an asset. A count revealed $500 still on hand ot December 31, 2021 b) Services performed during December but not yet billed to customers totalled $2,500. c) On July 1 2021 a $10,000 car was purchased on account. The car is expected to lout 4 years and have no residual value at the end of its useful life d) On December 31, 2021 utilities owed but not yet paid amounted to $500. e) On January 10, 2021 Griswold Inc. accepted a $5,000 deposit from a client for work to be completed during the year. The deposit wou recorded as unearned revenue on December 31, 2021 all the work for the client is complete

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