Please do both

E3-31B. (Learning Objectives 2, 3: Apply the revenue and expense recognition principles; adjust the accounts) Englewood Corporation experienced four situations for its supplies, Calculate the amounts that have been left blank for each situation. For situations 1 and 2. journalize the needed transaction. Consider each situation separately. 1 $1,500 2 700 400 3 700 $ S $1,000 800 Situation Beginning supplies... Purchases of supplies during the year........ Total amount to account for ..... Ending supplies............... Supplies Expense ....................................... 2,900 1.800 (990) $1,910 $ (900) ? (700) $ 1,300 $1,600 LO 3,5 E3-37B. (Learning Objectives 3, 5: Adjust the accounts; close the books) The unadjusted trial balance and income statement amounts from the December 31 adjusted trial balance of Lauer Production Company follow: Lauer Production Company Adjustments Adjusted Trial Balance Unadjusted Trial Balance 18,000 1,000 45,000 6,100 4300 8,900 2 Account 3 Cash 4 Prepaid rent 5 Equipment 6 Accumulated depreciation equipment 7 Accounts payable 8 Salary payable 9 Unearned service revenue 10 Income tax payable 11 Notes payable, long-term 12 Common stock 13 Retained earnings 14 Dividends 15 Service revenue 16 Salary expense 17 Rent expense 18 Depreciation expense-equipment 19 Income tax expense 20 Total 15,000 8,100 15,400 1,500 13,500 20,900 4700 1.100 5,000 1,800 950 1,400 9.150 71.300 71.300 20.900 21 Requirement 1. Journalize the adjusting and closing entries of Lauer Production Company at December 31. There was only one adjustment to Service Revenue