Indicate if an adjusting entry is needed for each item on October 31 for the month of October Assuming the adjusting entry is not made, indicate which specific category or categories of accounts on the financial Matements are misstated and if they are overstated or understated Use the following table as a guideliema is completed as an example Begin by completing the table for transaction band then transactions through (If an adjusting entry is not needed, select 'No' and do not select any other labels) Specific Category of Accounts on the Balance Sheet Specific Category of Accounts on the Adjusting Entry Nepdad Ovari Over Understated Income Statement Understated Yes Liitty Over Revenue Equity Choose from any drop-down list and then click Check Answer Clear A 5 parts More Info a. Received $2,500 cash from customer for three months of service beginning October 1 and ending December 31. The company recorded a $2,500 debit Cash and a $2,500 credit to Uneamed Revenue. b. Employees are paid $3,000 on Monday following the five-day work week. October 31 is on Friday. 1 c. The company pays $440 on October 1 for its six-month auto insurance policy The company recorded a $440 debit to Prepaid Insurance and a $440 credit Cash. d. The company purchased office furniture for $3,300 on January 2. Th|compa recorded an $8,300 debit to Office Furniture and an $8,300 credit to Account Payable. Annual depreciation for the furniture is $1,000. e. The company began October with $50 of office supplies on hand. On October 10, the company purchased office supplies on account of $100. The company recorded a $100 debit to Office Supplies and a $100 credit to Accounts Payable. The company used $120 of office supplies during Octobe f. The company received its electric bill on October 31 for $325 but did not pay until November 10. g. The company paid November's rent of $2,500 on October 30. On October 31 Print Done Cea AL c. The company pays $440 on October 1 for its six-month auto insurance policy. The company recorded a $440 debit to Prepaid Insurance and a $440 credit to Cash. The company purchased office fumiture for $3,300 on January 2. The company recorded an $8,300 debit to Office Fumiture and an $8,300 credit to Accounts Payable. Annual depreciation for the furniture is $1,000. e. The company began October with $50 of office supplies on hand. On October 10, the company purchased office supplies on account of $100. The company recorded a $100 debit to Office Supplies and a $100 credit to Accounts Payable. The company used $120 of office supplies during October. The company received its electric bill on October 31 for $325 but did not pay it until November 10. d. The company paid November's rent of $2,500 on October 30 On October 30 the company recorded a $2.500 debit to Rent Expense and a $2.500 credit to Cash. Bone Indicate if an adjusting entry is needed for each item on October 31 for the month of October Assuming the adjusting entry is not made, indicate which specific category or categories of accounts on the financial Matements are misstated and if they are overstated or understated Use the following table as a guideliema is completed as an example Begin by completing the table for transaction band then transactions through (If an adjusting entry is not needed, select 'No' and do not select any other labels) Specific Category of Accounts on the Balance Sheet Specific Category of Accounts on the Adjusting Entry Nepdad Ovari Over Understated Income Statement Understated Yes Liitty Over Revenue Equity Choose from any drop-down list and then click Check Answer Clear A 5 parts More Info a. Received $2,500 cash from customer for three months of service beginning October 1 and ending December 31. The company recorded a $2,500 debit Cash and a $2,500 credit to Uneamed Revenue. b. Employees are paid $3,000 on Monday following the five-day work week. October 31 is on Friday. 1 c. The company pays $440 on October 1 for its six-month auto insurance policy The company recorded a $440 debit to Prepaid Insurance and a $440 credit Cash. d. The company purchased office furniture for $3,300 on January 2. Th|compa recorded an $8,300 debit to Office Furniture and an $8,300 credit to Account Payable. Annual depreciation for the furniture is $1,000. e. The company began October with $50 of office supplies on hand. On October 10, the company purchased office supplies on account of $100. The company recorded a $100 debit to Office Supplies and a $100 credit to Accounts Payable. The company used $120 of office supplies during Octobe f. The company received its electric bill on October 31 for $325 but did not pay until November 10. g. The company paid November's rent of $2,500 on October 30. On October 31 Print Done Cea AL c. The company pays $440 on October 1 for its six-month auto insurance policy. The company recorded a $440 debit to Prepaid Insurance and a $440 credit to Cash. The company purchased office fumiture for $3,300 on January 2. The company recorded an $8,300 debit to Office Fumiture and an $8,300 credit to Accounts Payable. Annual depreciation for the furniture is $1,000. e. The company began October with $50 of office supplies on hand. On October 10, the company purchased office supplies on account of $100. The company recorded a $100 debit to Office Supplies and a $100 credit to Accounts Payable. The company used $120 of office supplies during October. The company received its electric bill on October 31 for $325 but did not pay it until November 10. d. The company paid November's rent of $2,500 on October 30 On October 30 the company recorded a $2.500 debit to Rent Expense and a $2.500 credit to Cash. Bone