-3 Problem 1: Adjusting Entries (3 points each, 24 points total) Provide the necessary adjusting entry. If there is no adjusting entry, write "No JE". You will be graded on neatness, format, and correct JE's. Assume year-end is on 12/31 unless otherwise noted. Cathy's Cat Care Company (C) runs a cat motel and grooming facility. Prepare the requested journal/adjusting entries. You will be graded on neatness, format, and if your answers are correct. Partial list of accounts before adjustments in 12/31/20X1 Accumulated Depreciation S Office Supplies Office Supplies Expense Prepaid Auto Insurance 1,750 2,100 300 4,860 1. C'prepared an inventory of supplies at year end. Only $700 of office supplies remains on hand as of 12/31/X1. Prepare the adjusting entry as of 12/31/X1. Sup Exp Sup 2108-700 1400 1400 2. On May 1, 20X1 the C' paid for two years rent for $26,400 cash. They originally booked the entire rent to Rent Expense. Prepare the adjusting entry for 12/31/XI. 8 26400 x 24 act Pre Rent 8800 RE Rent Exp 8800 26400 Jal 8800 7 3. Using the information in #2, provide the adjusting entry on 12/31/X2. (Assume no other adjustments were made during the year.) No JE