$1)$ The company previously purchased equipment in a previous accounting period for a cost of $$758,164.$ When purchased, the equipment had an expected life of $22$ years.

Describe the effects of this transaction on the accounting equation in terms of debits and credits

Assets $=$ Liabilities $+$ Equity

Prepare the appropriate journal entry for this transaction

Account Name $,$ Debit $,$Credit

$2)$ The company paid $$2,688$ for insurance on November $30$ for the following twenty four months.

Describe the effects of this transaction on the accounting equation in terms of debits and credits

Assets $=$ Liabilities $+$ Equity

Account name, Debit, Credit

$3)$ The company previously took out a loan from a bank that has a principal balance of $$58,966$ with an annual interest rate of $5\mathrm{.}8\%.$ The company makes an annual payment on this loan every year on February $28.$

Describe the effects of this transaction on the accounting equation in terms of debits and credits

Assets $=$ Liabilities $+$ Equity

Account name, Debit, Credit

$4)$ The company has $$16,827$ of supplies remaining on hand as of December $31.$

Describe the effects of this transaction on the accounting equation in terms of debits and credits

Assets $=$ Liabilities $+$ Equity

Prepare the appropriate journal entry for this transaction

Account name, Debit $,$Credit

$3)$ In Q$2,$ post the journal entries from Q$1$ to their appropriate cells in the worksheet. Then prepare the adjusted trial balance.