(3) Prepare adjusting entries for the year ended December 31, 2021, based on the following data: a. A two-year insurance policy costing $3,000 was purchased on September 30, 2021. b. Employee salaries are owed for 3 days of a regular 5-day work week. Weekly payroll, $8,000. c. The balance in Supplies before adjustment is $1,600. A physical count reveals $350 of supplies on hand on December 31, 2021. d. Equipment was purchased at the beginning of the year for $20,000. The equipment has a useful life of 4 years and no salvage value. e. Unearned Service Revenue has a balance of $4,200 before adjustment. Records show that $2,725 of that amount has been earned by December 31, 2021. (2) The following selected accounts appeared in the unadjusted trial balance of Hawthorne Industries: Accounts receivable $176,000 Prepaid rent 69,000 Prepaid insurance 36,000 Equipment 280,000 Accumulated depreciation-equipment 30,000 Unearned service revenue 24,000 Salary expense 130,000 Additional data: a. One-half of the revenue received in advance has been earned by December 31, 2021. b. The prepaid insurance represents three years' premium on a policy providing coverage starting September 1, 2021. c. Since the last payday, employees have earned an additional $2,500 which has not yet been paid or recorded. d. The equipment has an estimated life of 10 years and no expected value at the end of its life. e. Services performed but unbilled and uncollected at year end amount to $6,500. f. The prepaid rent relates to one-half of a year beginning on October 1, 2021. Prepare the necessary year-end adjusting entries as of December 31, 2021.