1a) Which of the following is the proper adjusting entry, based on a prepaid insurance account balance before adjustment of $18,680 and unexpired insurance of $5,463, for the fiscal year ending on April 30?

debit Prepaid Insurance, $18,680; credit Insurance Expense, $18,680

debit Insurance Expense, $18,680; credit Prepaid Insurance, $18,680

debit Insurance Expense, $13,217; credit Prepaid Insurance, $13,217

debit Prepaid Insurance, $13,217; credit Insurance Expense, $13,217

1b) Buster Industries pays weekly salaries of $38,550 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on Tuesday is

debit Dividends, $15,420; credit Cash, $15,420

debit Salaries Payable, $15,420; credit Cash, $15,420

debit Salary Expense, $15,420; credit Salaries Payable, $15,420

debit Salary Expense, $15,420; credit Dividends, $15,420