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Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $15,000 of

Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $15,000 of services on account, and (2) he purchased $6,300 of supplies on account. There were $1,150 of supplies on hand as of December 31, Year 1. Required a. b. & e. Record the two transactions in the T-accounts. Record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. Post the entries in the T-accounts and prepare a post-closing trial balance. (Select "a1, a2, or b" for the transactions in the order they take place. Select "cl" for closing entries. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Accounts Receivable Beg. Bal. End. Bal. Accounts Payable Beg. Bal. End. Bal. Supplies Beg. Bal. 0 End. Bal. Retained Earnings Beg. Bal. End. Bal. Service Revenue Supplies Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal.. 0 0

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