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QUESTION #5 Algoma Tennis Co. provides tennis lessons to students. The company has a year end of September 30, 2017. Prepare the September 30, 2017 adjusting entries for the following scenarios On October 1, 2016, the company had a balance of $2,000 in its supplies account. Additional supplies were purchased during the year, totaling $1,800. The supplies inventory on September 30, 2017, amounts to $800. Supply 500 X Soo On November 1, 2016, the company purchased a one-year insurance policy for $2,400. It was recorded as Prepaid Insurance. Insuranca accounts Rupaid spawan 4oo. To prepaid Insinance 2400 On June 15, 2017 a customer paid $600 for six months of lessons, scheduled to begin August 1, 2017 On October 1, 2016, Algoma Tennis Co. purchased a ball launcher for $12,000. The launcher's estimated useful life is ten years. Cash Ball launches 12,000 to cash account X 12000 On May 1, 2017, the company borrowed $20,000 from the bank and signed a one year, 3% note payable. Interest and principal are payable at maturity Interea axcount 600 to notes payable 600 On October 12, 2017, Algoma Tennis Co. received an invoice for $800 from the electrical company for electricity consumed during the month of September. The amount has not been recorded or paid. G. a Electrical company sou