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29 1 point You're going to start a yoga business! You'll make a number of transactions in January and you'll need to record ther. After you write each transaction, you'll be ready to answer the next series of questions. These details will be repeated within each question related to this topic, but a new specific question about the data will be asked each time. Using a piece of scrap paper, record the following transactions as a T accounts or journal entries, whichever you prefer. Make sure that you identify which transaction is for which date because the questions refer to specific dates, On Jan. 1. you invest $10,000 to start the business. On Jan 2, you buy $1,000 in supplies on account. On Jan 10, you pay for the supplies that had been purchased on account. You get hired to do yoga with a client and they pay you $200 on Jan. 15 for the yoga they plan on doing with you for the rest of the month (but you haven't provided the service yet). By the end of the month, you do indeed provide the services to them. (Record the adjustment) At the end of the month, you still have $900 in supplies left. (Record the adjustment) Record all of the transactions FIRST and then you'll be able to answer the specific questions. How do you record the accrued expenses? Debit decrease supplies expense for $1,000, debit decrease supplies for $1,000 At the end of the month, debit increase supplies expense for $900, credit decrease supplies for $900 At the end of the month, debit increase supplies expense for $1,000, credit decrease supplies for $1,000 At the end of the month, debit increase supplies expense for $100, credit decrease supplies for $100 You're going to start a yoga business! You'll make a number of transactions in January and you'll need to record them. After you write each transaction, you'll be ready to answer the next series of questions. These details will be repeated within each question related to this topic, but a new specific question about the data will be asked each time. Using a piece of scrap paper, record the following transactions as a T accounts or journal entries, whichever you prefer. Make sure that you identify which transaction is for which date because the questions refer to specific dates. On Jan. 1. you invest $10,000 to start the business. On Jan. 2, you buy $1,000 in supplies on account On Jan. 10, you pay for the supplies that had been purchased on account. You get hired to do yoga with a client and they pay you $200 on Jan. 15 for the yoga they plan on doing with you for the rest of the month (but you haven't provided the service yet). By the end of the month, you do indeed provide the services to them. (Record the adjustment) At the end of the month, you still have $900 in supplies left. (Record the adjustment) Record all of the transactions FIRST and then you'll be able to answer the specific questions. How should you record the revenue adjustment at the end of the month? Debit increase cash for $200, credit increase revenue for $200 Debit increase cash for $200, debit decrease unearned revenue for $200 Debit increase accounts receivable for $200, credit increase revenue for $200 Debit decrease unearned revenue for $200, credit increase revenue for $200 employees This artint ir