WITH EXPLANATIONS PLEASE

QUESTION #4 Mark attempt Bill Guerin Pty Ltd has the following transactions planned for the year 2021. Bill wants you to account for each of the transactions below as if they occurred on the first day of the year. Cash purchase of supplies for $1 000. Wages earned by employees. Not yet paid. $7 000. Cash purchase of rent for $1 000. Estimate for electricity used. Bill not received. Estimate of $3 000. Long term borrowing. Cash received of $8 000. Services provided. Cash received of $7 000. Services provided. Cash not received. $6 000. A year-end count is expected to show supplies on hand of $1080. A review of the loan agreement reveals annual simple interest will be payable on loan maturity at a rate of 3%. The rental agreement indicates the amount paid was for 18 months. . REQUIRED: Supplies expense for the year 2021. Electricity expense for the year 2021. Services revenue for the year 2021. Accounts receivable balance at the end of year 2021. Interest expense for the year 2021. Prepaid rent at the end of year 2021. Interest payable at the end of year 2021