Question 47 Colline Services, who provides general home maintenance to customers, has a December 21 calend. Selected that balance in thousands) have normal balance Accounts Payable 10 Accounts Receivable 17 Cash 2 Common Stock 74 Equipment 95 Notes Payable 60 Note Receivable 80 Prepaid Insurance 15 Retained Earnings 88 Salaries Expense 160 Service Revenue 350 Supplies Expense 13 Unearned Revenue 26 Utilities Expense 18 1. Collin purchased equipment for $95 on July 1 of the current year, has a 5-year life and no salvage value 2. Collin paid bi-weekly salaries through December 23 (entry already recorded). Subsequent salaries earned this year we 3. On September 1. Collin's borrowed $60 and signed a 4 year 10% note. 4. On April 1. Collin bought a 1-year insurance policy for $15 and recorded in a real account 5. $3 of supplies remained on hand at December 31. 6. The 6-month Note Receivable was outstanding since October 1 and has a 5% Interest rate. 7. Collin provided services worth $75 that have not been billed. 8. A utility bill received on December 10th for $3 has not been recorded. 9. $19 of services were performed for customers who had paid in advance. 10. On December 1. Collin recorded $4 of declared dividends on common stock to be paid next year. Required: Prepare the necessary adjusting entries. Show all work and clearly indicate debits and credits using good journal Edit View Insert Format Tools Table Question 47 Colline Services, who provides general home maintenance to customers, has a December 21 calend. Selected that balance in thousands) have normal balance Accounts Payable 10 Accounts Receivable 17 Cash 2 Common Stock 74 Equipment 95 Notes Payable 60 Note Receivable 80 Prepaid Insurance 15 Retained Earnings 88 Salaries Expense 160 Service Revenue 350 Supplies Expense 13 Unearned Revenue 26 Utilities Expense 18 1. Collin purchased equipment for $95 on July 1 of the current year, has a 5-year life and no salvage value 2. Collin paid bi-weekly salaries through December 23 (entry already recorded). Subsequent salaries earned this year we 3. On September 1. Collin's borrowed $60 and signed a 4 year 10% note. 4. On April 1. Collin bought a 1-year insurance policy for $15 and recorded in a real account 5. $3 of supplies remained on hand at December 31. 6. The 6-month Note Receivable was outstanding since October 1 and has a 5% Interest rate. 7. Collin provided services worth $75 that have not been billed. 8. A utility bill received on December 10th for $3 has not been recorded. 9. $19 of services were performed for customers who had paid in advance. 10. On December 1. Collin recorded $4 of declared dividends on common stock to be paid next year. Required: Prepare the necessary adjusting entries. Show all work and clearly indicate debits and credits using good journal Edit View Insert Format Tools Table