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Required information Exercise 13-10A (Algo) Recording supplies and identifying their effect on financial statements LO 13-1, 13 . 3. 134 [The following information applies to the questions displayed below] Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $18,400 of services on account, and (2) he purchased $6,700 of supplies on account. There were $1,200 of supplies on hand as of December 31 , Year 1 Exercise 13-10A (Algo) Part a, b, and e Required a. b. \& e. Record the two transactions in the T-accounts. Record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. Post the entries in the T-accounts and prepare a post-closing trial balance Note: Select "o1, o2, or b" for the tronsoctions in the order they take ploce. Select "cl" for closing entries. If no entry is required for o tronsoction/event, select "No journal entry required" in the first account field. Journal entry worksheet 2 Record the clonure of service revenue. Totetinter debits before ovdits. 1 Record the closure of service revenue. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ CHASE ARCHITECTURAL SERVICES } \\ \hline \multicolumn{3}{|c|}{ Post-Closing Trial Balance } \\ \hline \multicolumn{3}{|c|}{ December 31, Year 1} \\ \hline Account Titles & Debit & Credit \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Totals & $0 & $ \\ \hline \end{tabular} Required information Exercise 13-10A (Algo) Recording supplies and identifying their effect on financial statements LO 13-1, 133. 13.4 [The following information applies to the questions displayed below] Sye Chase started and operated a small family architectural firm in Year 1 . The firm was affected by two events. (1) Chase provided $18,400 of services on account, and (2) he purchased $6,700 of supplies on account. There were $1,200 of supplies on hand as of December 31 , Year 1. Exercise 13-10 A (Algo) Part c c. Show the above transactions in a horizontal statements model. Note: Enter any decreases to account belances and cash outflows with a minus sign. In the Statement of Cash Flows column, use the initials OA to designote operating octivity, IA for investing octivity, FA for financing activity and NC for net change in cash. Not oll cells require input. Required information Exercise 13-10A (Algo) Recording supplies and identifying their effect on financial statements LO 13-1, 13 . 3,134 The following information applies to the questions displayed below] Sye Chase started and operated a small family architectural firm in Year 1 . The firm was affected by two events: (i) Chase provided $18,400 of services on account, and (2) he purchased $6,700 of supplies on account. There were $1,200 of supplies on hand as of December 31 , Year 1. Exercise 13-10A (Algo) Part d d. Explain why the amounts of net income and net cash flow from operating activities differ