Required information Exercise 3-10A Recording supplies and identifying their effect on financial statements LO 3-1,3-3,3-4 [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 $21,300 of services on account, and (2) he purchased $6,200 of supplies on account. There were $900 of supplies on hand as of December 31, Year 1 Exercise 3-10A 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 "61, 62, or be for the transactions in the order they take place. Select "el" for closing entries. If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Supplies Accounts Receivable Beg Bal Beg Bal End Bal 0 0 End. Bal Retained Earnings Accounts Payable Beg Bal Beg Bal. 0 End Bal Supplies Expense Service Revenue 9 8 of it !! Next > lotte a SD 9 Required information 3 Beg Bal. Bega End Ral End Bal 0 View transaction list Journal entry worksheet Record the dosure of service revenue, Note: Enter debits before credits. General Journal Debit Date Credit Dec 31 6 7 8 of 11 Next > Required information Notes Enter debit before 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 $ 0 $ 0 Totals 11 Next >