i Requirements 1. Journalize the adjusting entry needed on December 31 for each of the items affecting Lovely Landscaping. Assume Lovely records adjusting entries only at the end of the year. 2. Journalize the subsequent journal entries for adjusting entries a, d, and g. Print Done More into a. Each Friday, Lovely pays employees for the current week's work. The amount of the weekly payroll is $7,600 for a five-day workweek. This year December 31 falls on a Thursday. Lovely will pay its employees on January 1. b. On January 1 of the current year, Lovely purchases an insurance policy that covers two years, $4,000 C. The beginning balance of Office Supplies was $4,300. During the year, Lovely purchased office supplies for $5,000, and at December 31 the office supplies on hand total $2,500. d. During December, Lovely designed a landscape plan and the client prepaid $5,000. Lovely recorded this amount as Unearned Revenue. The job will take several months to complete, and Lovely estimates that the company has earned 60% of the total revenue during the current year. e. At December 31, Lovely had earned $4,200 for landscape services completed for Yard Sale Appliances. Yard Sale has stated that it will pay Lovely on January 10. f. Depreciation for the current year includes Equipment, $4,000; and Trucks, $1,100. g. Lovely has incurred $600 of interest expense on a $1,000 interest payment due on January 15. Print Done