Required information 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 right column. Account Name Cash Accounts Receivable Prepaid Rent Supplies 0 Equipment Accumulated Depreciation Accounts Payable Deferred Revenue BILL'S BOARDS Unadjusted Trial Balance At September 30 Debits Credits Notes $ 16,600 This balance equals the balance reported by the bank. 1,720 A customer ordered $1,720 of advertising services to be provided in October. The accountant recorded this service by debiting Accounts Receivable and crediting Service Revenue. 1,600 Starting January 1, BB agreed to pay $2,400 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 $520 on hand on September 30. 5,600 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. 2,110 BB purchased and received $2,110 of supplies used for creating advertising displays. The supplier is to be paid in October. 1,290 This balance relates to $1,290 cash paid by a customer in August for advertising from September 1-November 30. 0 BB employees are still waiting to be paid for the last half of September. 520 BB hasn't paid the $520 tax owed from the last fiscal year. 2,520 BB has issued 5,010 shares for $2,520 cash. 9,510 BB started business a few years ago, so this is the total accumulated earnings up to October 1 of last year. 62,180 BB has provided $5,010 of services for which it hasn't yet billed customers or recorded in its accounting records. 48,000 BB employees earn $6,000 per month. The employees were paid in full on August 31, and were paid again on September 15. 0 About $1,400 of the usefulness of the equipment's $5,600 cost has been used up during the current fiscal year. 800 BB incurs a small cost to rent the land on which its billboards are located. Rent for the current year has been paid in full. 3,810 BB accountant expensed $3,810 of supplies purchased during the year because he assumed the supplies would be completely used by year-end. As noted above, he was wrong. 0 BB tax rate is 20% of income before tax. $ 78,130 $ 78,130 Salaries and Wages Payable Income Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Depreciation Expense Rent Expensie Supplies Expense Income Tax Expense Totals Required: Prepare the adjusting journal entries for the year ended September 30. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet x No Transaction General Journal Debit Credit 1 a 1,720 Service Revenue Accounts Receivable 1,720 2 b 1,000 Rent Expense Prepaid Rent 1,000 3 1,400 Depreciation Expense Accumulated Depreciation 1,400 4 d Deferred Revenue 430 Service Revenue 430 5 e Accounts Receivable 5,010 Service Revenue 5,010 6 f 3,000 Salaries and Wages Expense Salaries and Wages Payable 3,000 7 g 520 Supplies Supplies Expense 520 8 h Income Tax Expense Income Tax Payable