4 Journalize the adjusting entry needed at December 31 for each situation. Use the Chart of Accounts to review account names! Employees earned $1,800 in salaries that will be paid next month. Date Used prepaid insurance of $4,800 Date Accounts and Explanation Debit Credit Accounts and Explanation Debit Credit Depreciation for the current year includes Equipment, $3,400. Date Accounts and Explanation Debit Credit