Thank you for your assistance in answering the requirement on providing the adjusting entries.

Ben started his auto sales and service company. For car diagnostic test he will charge and bill his customers at $35 per hour. In the month of September that is his first month of operations, he will start with a Retained Earnings balance of $o. Use only the chart of account names to prepare the journal entries. The following transactions occurred during the month of September. Sept 1 Sept 5 Sept 6 Sept 7 Sept 10 Sept 12 Sept 15 You contributed $50,000 cash to your business and you are the only stockholder. Received a bank loan of $100,000 payable in 5 years. Purchased and paid $25,000 for a car to use in the business. Signed a lease on a building and prepaid 12-months rent for $24,000. Purchased a one-year insurance policy for the next year for $3,600. Purchased office supplies for $1,000 to setup the office. You will pay for these in 30 days. Performed work for customers. You completed 40 hours of work and received payment immediately. Hint: For amount, multiply 40 hours x amount you charge per hour. Received utility bill for this month for $75 payable on October 15. Performed work for customers. You completed 150 hours of work and will receive payment within the next 30 days. Hint: For amount, multiply hours x amount you charge per hour. Paid your employee for work performed salary of $1,500. Paid the utility bill received on Sept 20. Received payment from customers for $750 Paid Dividends of $500 Sept 20 Sept 22 Sept 25 Sept 27 Sept 28 Sept 29 Required: 1. Prepare the adjusting journal entries: a) Supplies on hand are $650. b) One month of insurance has expired or been used. c) One month of depreciation on the car is $350. d) One month of rent has been used or passed. Accrued interest on the bank loan is $120. This will be paid quarterly. Use only the following account names: Cash, Accounts Receivable, Prepaid Rent, Prepaid Insurance, Office Supplies, Automobiles, Accumulated Depreciation-Auto, Accounts Payable, Interest Payable, Notes Payable, Common Stock, Retained Earnings, Dividends, Service Revenue, Depreciation Expense-Auto, Insurance expense, Interest expense, Rent expense, Salaries expense, Supplies expense, Utilities expense