2.00 points Brokeback Towing Company is must be considered were developed from the company's records and related documents: at the end of its accounting year, December 31, 2015. The following data that a. On July 1, 2015, a two-year insurance premium on equipment in the amount of $768 was paid and debited in full to Prepaid Insurance on that date. Coverage began on July 1 supplies on December 31, 2015, indicated supplies costing $370 were still on hand. The amount is not yet recorded. It will be paid during January 2016 b. At the end of 2015, the unadjusted balance in the Supplies account was $1,000. A physical count of 2 c. On December 31, 2015, YY's Garage completed repairs on one of Brokeback's trucks at a cost of $870. d. On December 31, 2015, the company completed a contract for an out-of-state company for $8,300 payable by the customer within 30 days. No cash has been collected and no journal entry has been made ody 1, 20i5 he company purchasng a Depreciation for July December 2015 f. As of December 31, the company owes interest of $570 on a bank loan taken out on October 1, 2015. The for this transaction. estimated to total $3,100, has not been recorded interest will be paid when the loan is repaid on September 30, 2016. No interest has been recorded yet g. Assume the income after the preceding adjustments but before income taxes was $37,000. The company's federal income tax rate is 20%. Compute and record income tax expense Required 1 Give the adjusting journal entry required for each item at December 31, 2015. (If no entry is required for a transactionlevent, select No Journal Entry RequiredT in the firat account field.) View transaction list