4. Instructions - Prepare the necessary adjusting journal entries indicated by each item for the year ended December 31, 2021 for James Company. 1. Unearned Service Revenue was credited for $1,200 on April 1, 2021 for cash received from a customer in that amount. The amount represents a one-year advance payment for services to be performed on a monthly basis by James Company through March 31, 2022. Date December 31, 2021 Account Description idjust jostrel Debit Credit 1,200 1,200 2. 3. James Company had unpaid salaries and wages at year end in the amount of $1,250. Date Account Description December 31, 2021 Debit Credit 1,250 1,250 James Company owns equipment for which it estimates depreciation to be $2,800 a year. Date Account Description December 31, 2021 Debit Credit 2.800 2,800 A one-year insurance policy was purchased on June 1, 2021. The $600 insurance premium was paid in cash on that date and was debited to Prepaid Insurance. Date December 31, 2021 Account Description Debit Credit