Journalize the year-end adjusting entry for each of the following P.O. 5 for the fiscal year ending December 31:

r , d-mA • • r u • j journalize adjusting entries.

a. The payment of the $930 insurance premium tor three years m advance was originally recorded as Prepaid Insurance. One year of the policy has now expired.

b. All employees earn a total of $1,000 per day for a five-day week beginning on Monday and ending Friday. They were paid for the work week ending December 27. They worked on Monday, December 30, and Tuesday, Decem¬

ber 31.

c. The Supplies account had a balance of $448 on January 1. During the year,

$1,100 of supplies were bought. A year-end inventory shows that $640 worth of supplies are still on hand.

d. Equipment costing $58,800 has a useful life of five years with an $8,000 trade-in value at the end of five years. Record the depreciation for the year.