Ricardo Construction began operations on December $1.$ In setting up its accounting procedures, the company decided to debit expense accounts when it prepays its expenses and to credit revenue accounts when customers pay for services in advance. Prepare journal entries for items a through $d$ and the adjusting entries as of its December $31$ period$-$end for items e through $g.$

a$.$ Supplies are purchased on December $1$ for $$2,000$ cash.

b$.$ The company prepaid its insurance premiums for $$1,540$ cash on December $2.$

c$.$ On December $15,$ the company receives an advance payment of $$13,000$ cash from a customer for remodeling work.

d$.$ On December $28,$ the company receives $$3,700$ cash from another customer for remodeling work to be performed in January.

e$.$ A physical count on December $31$ indicates that the Company has $$1,840$ of supplies available.

f$.$ An analysis of the insurance policies in effect on December $31$ shows that $$340$ of insurance coverage had expired.

g$.$ As of December $31,$ only one remodeling project has been worked on and completed. The $$5,570$ fee for this project had been received in advance and recorded as remodeling fees earned.

Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

$6$

$7$

Supplies are purchased on December $1$ for $$2,000$ cash.

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Joumal,Debit,Credit$],[$a$.,,,],[,,,],[,,,],[,,,],[,,,]]$