Question
The following information is provided for Nicoles Mobile Pet Grooming Services which is owned by Nicole Belmont for the month of May 2023. 1. During
The following information is provided for Nicoles Mobile Pet Grooming Services which is owned by Nicole Belmont for the month of May 2023. 1. During the month of May 2023, the business purchased $1,350 of supplies on credit. At 31 May 2023, $650 worth of supplies were still on hand. 2. On the 2nd of May 2023, a new client paid the business $2,500 for pet grooming services to be provided for the next three (3) months. At the end of May $1,200 of this revenue still remains unearned. 3. Depreciation of the businesss delivery van for the month of May 2023 is $800 4. The business received a bill for $1,000 from Advantage Marketing for marketing expenses for the month of May 2023. The account remains unrecorded and unpaid at the 31st May 2023 Required: Prepare the adjusting journal entries that relate to each of the above transactions as at the 31st May 2023. Narrations ARE NOT required (8 marks)
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