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SCHILD. 9. The Warsaw Corporation began business operations on December 1, Year One. The company had the following transactions during the time when it was

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SCHILD. 9. The Warsaw Corporation began business operations on December 1, Year One. The company had the following transactions during the time when it was starting: a. An employee was hired on December 1, for $4,000 per month with the first payment to be made on January 1. b. The company made an $18,000 payment on December 1, to rent a building for the following six months. c. Supplies were bought on account for $10,000 on December 1. Supplies are counted at the end of the year and $3,600 is still on hand. d. The company receives $9,000 for a service that it had expected to provide immediately. However, a problem arises because of a series of delays and the parties agree that the service will be performed on January 9. e. A job was completed near the end of the year, and the customer will pay Warsaw all $8,000 early in the following year. Because of the late date, no entry was made at that time

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