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Problem 1: Internet Consulting Services Ine adjusts monthlys Prepare the adjusting entries for the month of Decetsber 2020 : 40 pets. PLACE ALL ANSWI RS IN BLUEBOOK PROVIDED 1. On December 1 Internet signed an ofeement \& paid 3 months rent in advance total $6,300. 2. Dues \& subseriptions expiring durins December amounted to $50. 3. An estimate of supplies on hand was made at December 31, the unused supplies cost s4s0 of the $600 that were available. 4. The useful life of the equipment was 5 years from date of acquisition at a price of 536,000. 5. Accrued interest on the 55,000 not 1 ayable Amounted to $100. 6. Ifiternet Consulting Services valued st 2,850 were rendered during December to clients who had made payment in advance. 7. At December 31, Consulting Serviecs valued at $11,000 had been rendered to clients but not 8. Salaries earned by employees but not paid as of December 31 amounted to $1,700. 9. Income Tax expense for the year is $56,000; of this $51,000 has been recognized already this 10. Notes Payable, $40,000; the balance consists of a note for 6 month at an annual interest rate of 9%, dated December 1 . Froblem 2: START A NEW PROBLEM ON A NEW PAGE IN THE BL. WFROOK 35pts Carter Labs \& Medical Office from MA adjusts and closes its accounts at the end of each month. The ADJESTED TRIAL BAL.ANCE at September 30,8020 is as follows: Prepare the BALANCE SHEET \& INCOME STATEMENT required at month ending September 30. EVALUATION 5 POINTS Problem 3: Name and define the 3 formal financial statements. 10pts

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