Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work. Dec-1 prepaid 24 month insurance policy(coverage starting immediately) for $24,000 cash.

Dec-7 purchased supplies for $2,000 cash.

Dec-13 agreed to do $10,000 worth of work for Telo over the next 30.payment is to be received when the work is completed on Jan12.

Dec-24 received $4,000 cash in advance to perform work for ABX over the next four weeks.

Jan-5 paid wages of $800 cash to workers.

Jan-12 received $10,000 cash from Telo for work performed over the last 30 days.

Additional Information as of December 31

Telo Job Completion at Year-End: Telo 60% Complete

ABX Job Completion at Year-End:ABX 25% Complete

Supplies Remaining at Year-End

Wages Earned By Workers but not yet Paid at Year-End

1. Record the journal entries required for December, excluding the December 31 year-end adjusting entries. 2. Record the December 31 year-end adjusting entries for (a) prepaid insurance, (b) supplies, (c) accrued wages, (d) accrued revenue, and (e) unearned revenue. 3. Record the journal entries required for January.