1.42 points Required Each of the following independent events requires a year-end adjusting entry. Show how each event and its related adjusting entry affect the accounting equation. Assume a December 31 closing date. The first event is recorded as an example. (Do not round intermediate calculations. Enter any decreases to account balances with a minus sign a. Paid $6,200 cash in advance on April 1 for a one-year insurance policy. b. Purchased $1,700 of supplies onaccount. At year's end, $120 of supplies remained on hand. c. Paid $6,450 cash in advance on March 11or a one-year lease on office space. d. Received an $15,450 cash advance lor a contract to provide services in the tuture. The contract required a one-year commitment starting September 1. The Accounting Equation Total Assets Stockholders' Equity Event djustment cash Assets Liabilities Common Stock Retained a. (6,200) 6,200 a. Adi (4.650) (4,650 b. Adj. c. Adi. d. Adj