Requlred Inlormation Exercise 13-10A (Algo) Recording supplies and Identifying their effect on financial statements LO 131, 133,134 [The tollowing iniormation apples to the questlons displayed below) Sye Chase slarled and operated a small lamily archilectural firm in Year 1 . The firm was affected by two events (f) Chase provided \$18,600 of services on account, and (2) he purchased $7,000 of supplies on accourt. There were $1,150 of supplies on hand as of December 31, Yeat 1. Exercise 13-10A (Algo) Part a,b, and e Required a. b. \& e. Record the two transactions in the T-accounts. Record the required year-end adjusting entry to reflect the use of supples and the tequired closing entiles. Post the entries in the T-accounts and prepare a posi-closing trial batance. (Solect "o1, a 2, or b" for the transections In the order they take place. Select "cl" for closing entries. If no entry is required for a transactlen/event, solect "Wo Journal entry required" In the first account fleld.) joutnd enuy required in the irst account meta. Requlred Inlormation Exercise 13-10A (Algo) Recording supplies and Identifying their effect on financial statements LO 131, 133,134 [The tollowing iniormation apples to the questlons displayed below) Sye Chase slarled and operated a small lamily archilectural firm in Year 1 . The firm was affected by two events (f) Chase provided \$18,600 of services on account, and (2) he purchased $7,000 of supplies on accourt. There were $1,150 of supplies on hand as of December 31, Yeat 1. Exercise 13-10A (Algo) Part a,b, and e Required a. b. \& e. Record the two transactions in the T-accounts. Record the required year-end adjusting entry to reflect the use of supples and the tequired closing entiles. Post the entries in the T-accounts and prepare a posi-closing trial batance. (Solect "o1, a 2, or b" for the transections In the order they take place. Select "cl" for closing entries. If no entry is required for a transactlen/event, solect "Wo Journal entry required" In the first account fleld.) joutnd enuy required in the irst account meta