A company prepares monthly financial statements. Using the following information, adjust the accounts as necessary on January 31, using the financial statement effects template.(a) Prepaid insurance represents a three-year premium paid on January 1.(b) Supplies of $850 were still available on January 31.(c) Office equipment is expected to last eight years (or 96 months).(do) The unearned rent revenue represents six months of rent received in advance on January 1.(e) Salaries of $490 have been earned by employees but yet not recorded as of January 31.