3. Complete the following table

2. Using T-accounts, determine the adjusted balances in each account and prepare an adjusted trial balance as of December 31 . (Enter your answers in thousands of dollars.) Mint Cleaning Inc. prepared the following unadjusted trial balance at the end of its second year of operations, ending December 31. To simplify this exercise, the amounts given in the unadjusted trial balance are in thousands of dollars. Other data not yet recorded at December 31 are as follows: a. Insurance expired during the year, \$24. b. Depreciation expense for the year, $23. c. Wages payable, $26. d. Income tax expense, $28. Required: 1. Prepare the adjusting journal entries for the year ended December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands of dollars.) \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ MINT CLEANING INC. } \\ \hline \multicolumn{3}{|c|}{ Adjusted Trial Balance } \\ \hline \multicolumn{3}{|c|}{ December 31} \\ \hline \multicolumn{3}{|c|}{ (in thousands of dollars) } \\ \hline Account Titles & Debit & Credit \\ \hline \multicolumn{3}{|l|}{ Cash } \\ \hline \multicolumn{3}{|l|}{ Accounts receivable } \\ \hline \multicolumn{3}{|l|}{ Prepaid insurance } \\ \hline \multicolumn{3}{|l|}{ Machinery } \\ \hline \multicolumn{3}{|l|}{ Accumulated depreciation } \\ \hline \multicolumn{3}{|l|}{ Accounts payable } \\ \hline \multicolumn{3}{|l|}{ Wages payable } \\ \hline \multicolumn{3}{|l|}{ Income tax payable } \\ \hline \multicolumn{3}{|l|}{ Contributed capital } \\ \hline \multicolumn{3}{|l|}{ Retained earnings } \\ \hline \multicolumn{3}{|l|}{ Sales revenue } \\ \hline \multicolumn{3}{|l|}{ Administrative expenses } \\ \hline \multicolumn{3}{|l|}{ Wages expense } \\ \hline \multicolumn{3}{|l|}{ Depreciation expense } \\ \hline \multicolumn{3}{|l|}{ Insurance expense } \\ \hline \multicolumn{3}{|l|}{ Income tax expense } \\ \hline Totals & $ & $ \\ \hline \end{tabular}