2. Prepare the adjusting entry required for each transaction at December 31, 2014. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) Required Information View transaction list The following information applies to the questions displayed below. Journal entry worksheet Martin Towing Company is at the end of its accounting year, December 31, 2014. The following data that must be considered were developed from the company's records and related documents: a. On January 1, 2014, the company purchased a new hauling van at a cash cost of On January 1, 2014, the company purchased a new hauling van at a cash cost of $24,600. Depreciation estimated at $3,500 for the year has not beer $24,600. Depreciation estimated at $3,500 for the year has not been recorded for recorded for 2014 2014. b. During 2014, office supplies amounting to S900 were purchased for cash and debited in full to Supplies. At the end of 2013, the count of supplies remaining on hand was $240. The inventory of supplies counted on hand at December 31, 2014, was $370. Note: Enter debits before credits Debit Credit c. On December 31, 2014, Lanie's Garage completed repairs on one of the company's trucks at a cost of S1,000; the amount is not yet recorded and by agreement will be paid during January 2015. d. On December 31, 2014, property taxes on land owned during 2014 were estimated at $1,330. The taxes have not been recorded, and will be paid in 2015 when billed. e. On December 31, 2014, the company completed a contract for an out-of-state company for $6,200 payable by the customer within 30 days. No cash has been collected, and no journal entry has been made for this transaction On July 1, 2014, a three-year insurance premium on equipment in the amount of $840 was paid and debited in full to Prepaid Insurance on that date. Coveraae beaan on Julv Record entry Clear entry View general journal t