1. Atlas Company's Store Supplies account had a beginning balance of $870. Throughout the year the company purchased $1,700 in supplies. A physical count of the supplies showed $825 of unused supplies available as of December 31, 2016. Prepare the required adjusting entry 2. You have the following insurance policies: Amount Purchase Date Aug 1. 2013 Jan 1, 2014 Period 3 vrs $2.880 $3.600 $1.920 TS Sep 1.201 The total premium for each policy was paid in full (for all months) at the purchase date, and the Prepaid Insurance account was debited for the full cost. (Year-end adjusting entries for Prepaid Insurance were properly recorded in all prior years.) Prepare the adjusting journal entry for December 31, 2016. 3. You sold tickets for 2 different concert series as summarized below: Number of Number of Concerts in Ticket Sales Amount Received Concerts in SeriesSeries remaining at December 31, 2016 when sold July 1,2016 Aug 1.2016 When you sold the tickets it was recorded in Unearned Concert Revenue. Prepare the required adjusting entry at December 31, 2016. S4,500,000 $3,500,0007 4. You made the following loans to two of your employees: Total Interest Loan Amount Loan Date Periodon Name John Q Alex 2 Loan $1,500 I July 2016 10 months $90 $2.500 1 Oct 2016 12 months $120 Prepare the required adjusting entry for accrued interest on December 31, 2016