See Daycard Night Way Orton heon August 2018. During 5.000 shares of Night way to $13.000. Lach shares 10 eng, Inc. common look for Borrowed 8.000 bayo not payable Pad 9.020 to purchased for and window daning equipment froma 54,200 for the window ) Pad 200 for S tr and one service Purchased cleaning up for $975 on court Hired temployees. Each will be paid $450 per 5-day work week Monday Friday). Employees will begin woning on Monday, September O nderne over September 3, 2018 for 0.840 year. Coverage from August 2006 Gr .480 Gshor Dissions with the range agent indicated that providing outside window cleaning service would con lo much to mure Grace sold the windowdering 4.300 ied customers 3.500 or vice performed through Received $800 from a customer for 4 wooks of cleaning services to begin Paid $325 on amount owed on cleaning Supplies Paid $2.75 per share to buy 300 shares of Night Day Office Cleaningine Con stock froma der who disagree with m e The shares will be held a boy stock Billed customers $4.500 for cleaning services performed through September 20 Paid cash for employees wages for 2 weeks (September 9-13 and 16-20) Collected $2.500 chfrom customers bilied on September 18 Paid $200 for me and phone services for October Declared and paid a chdvidend of $0.15 per share Received notice that customer who was led 200 for services performed September 12th has led for bankruptcy. Night Day Office Cleaning Inc does not expect to collect any portion of this outstanding No ble Night' Day Office Cleaning Inc. will follow the GAAP Guidelines for uncollectible accounts) Biled customers $3.500 for September 27 ingervices performed through A Services performed for customers through Setters, 2018. but unbilled and uncollected were $900. B Night Day Office Cleaning Inc. used the allowance method to estimate hadde Night Day Office Cleaning Inc. estimates that ofis month and receivables will C. Record 1 month of depreciation for the for m ent Use the straight line Maneno yang D. Record 1 month of insurance expense E. An inventory court shows 5500 of supplies on hand September 30th F. One week of services were performed for the customer who paid in advance on September 16 G. Accrue for wages owed through September 30, 2019 H. Accrue for interestepense for one month 1. Graci as a 20% Income tax (Hint: Prepare an income statement up to Income before to help with the income tax calculation) 1. Journalize the ori transactions 2. Postoledger counts. 1. Prepare a Trial Balance as of September 29, 2019 4. Journalize the adjusting entries. Bound al amounts to wholedo 5. Pons dusting entries to the edge cours Prepare an Adsedal Balance ) Grace Day opened Night 'n' Day Office Cleaning, Inc. on August 31, 2019. During September, the following transactions were completed: Sept. 2 Issued 5,000 shares of Night 'n' Day Office Cleaning, Inc. common stock for $13,000. Each share has a $1.50 par. Borrowed $8,000 bn a 2-year, 9% note payable. Paid $9,020 to purchase used floor and window cleaning equipment from a company going out of business ($4,820 was for the floor equipment and $4,200 for the window equipment). Paid $200 for September Internet and phone service. Purchased cleaning supplies for $975 on account Hired 4 employees. Each will be paid $450 per 5-day work week (Monday- Friday). Employees will begin working on Monday, September 9. Obtained insurance coverage for $9,840 per year. Coverage runs from September 3, 2019, through August 31, 2020. Grace paid $2,460 cash for the first quarter of coverage. Discussions with the insurance agent indicated that providing outside window cleaning services would cost too much to insure. Grace sold the window cleaning equipment for $4,300 cash. Billed customers $3,900 for cleaning services performed through September 13, 2019. 16 Received $800 from a customer for 4 weeks of cleaning services to begin on September 23, 2019. Paid $325 on amount owed on cleaning supplies. Paid $2.75 per share to buy 300 shares of Night 'n' Day Office Cleaning Inc common stock from a shareholder who disagreed with management goals. The shares will be held as treasury stock. Billed customers $4,500 for cleaning services performed through September 20. Paid cash for employees' wages for 2 weeks (September 9-13 and 16-20). Collected $2,500 cash from customers billed on September 16. Paid $200 for Internet and phone services for October Declared and paid a cash dividend of $0.15 per share. Received notice that a customer who was billed $200 for services performed September 12th has filed for bankruptcy. Night 'n' Day Office Cleaning Inc. does not expect to collect any portion of this outstanding receivable. (Night 'n' Day Office Cleaning Inc. will follow the GAAP Guidelines for uncollectible accounts.) 30 Billed customers $3,500 for cleaning services performed through September 27. Adjustment Data: A. Services performed for customers through September 30, 2019, but unbilled and uncollected were $900. B. Night 'n' Day Office Cleaning Inc. used the allowance method to estimate bad debts. Night 'n' Day Office Cleaning Inc. estimates that 3% of its month-end receivables will not be collected C. Record 1 month of depreciation for the floor equipment. Use the straight-line method, an estimated life of 4 years, and $500 salvage value. D. Record 1 month of insurance expense. E. An inventory count shows $500 of supplies on hand at September 30th. F. One week of services were performed for the customer who paid in advance on September 16th. G. Accrue for wages owed through September 30, 2019. H. Accrue for interest expense for one month. 1. Grace estimates a 20% income tax rate. (Hint: Prepare an income statement up to "income before taxes" to help with the income tax calculation.) Instructions: 1. Journalize the April transactions. 2. Post to ledger accounts. 3. Prepare a Trial Balance as of September 30, 2019. 4. Journalize the adjusting entries. (Round all amounts to whole dollars.) 5. Post adjusting entries to the ledger accounts. 6. Prepare an Adjusted Trial Balance. 7. Journalize the closing entries