Required information Exercise 13-10A Recording supplies and identifying their effect on financial statements LO 13-1, 13-3, 13-4 [The following information applies to the questions displayed below.] Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $18,800 of services on account, and (2) he purchased $6,100 of supplies on account. There were $750 of supplies on hand as of December 31, Year 1. Exercise 13-10A Part a, b, and e Required a. b. & e. Record the two transactions in the accounts. Record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. Post the entries in the T-accounts and prepare a post-closing trial balance. (Select "a1, a2, or b" for the transactions in the order they take place. Select "cl" for closing entries. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Accounts Receivable Supplies Beg. Bal. a 1 Beg. Bal. a2. 18,800 6,100 5,350 End. Bal. 18,800 End. Bal. 750 Accounts Payable Retained Earnings Beg. Bal. Beg. Bal. cl 6,100 5,350 18,800 End. Bal. 6,100 End. Bal. 13,450 Service Revenue Supplies Expense Beg. Bal. Beg. Bal. cl 18,800 18,800 b. 5,350 5,350 End. Bal. 0 End. Bal. 0 View transaction list Journal entry worksheet Record the closure of service revenue. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal CHASE ARCHITECTURAL SERVICES Post-Closing Trial Balance December 31, Year 1 Account Titles Debit Credit Cash $ 18,800 Supplies 750 Accounts payable 6,100 Retained earnings 13,450 Totals $ 19,550 $ 19,550