1. Diane Company completed its first year of operations on December 31. All of the year's entries have been recorcled except for the following: a. At year-end, employees eamed wages of $4,000, which will be pald on the next payroll date in January of next year b. At year-end, the company had earned Interest revenue of $1,500. The cash wil be collected March 1 of next year. 2. Aubrae Company is making adjusting entrles for the year ended December 31 of the current year. In developing intormation for the adjusting entries, the accountant learned the folliowing: a. A two-year insurance premium of $4,800 was paid on October 1 of the current year for coverage beginning on that date. The bookkeeper debited the tull amount to Prepaid Insurance on October 1 b. At December 31 of the current year, the Tollowing data relating to Shipping Supplies were obtained trom the records and supporting documents. Shipping supplies on hand, January 1 of the current year Purchasos ot shipping supplics curing the current year Shipping supplics on hand, counted on December 31 of the current year Posplics on m 13,000 15,000 20,000 For each of the transactions in Diane Company and Aubrae Company, indicate the amount and the direction of effects ofthe adjusting entry on the elements of the balance sheet and income statement. Using the table below, indicatefor increase and for decrease. Required