a. The details of Prepaid Insurance are as follows: Prepaid Insurance Jan 1 Bal 2,608 Mar 31 2,900 Irons prepays insurance on March 31 each year. At December 31, $100 is still prepaid. b. Irons pays employees each Friday. The amount of the weekly payroll is $5,700 for a five-day work week. Print Done The current accounting period ends on Wednesday. c. Irons has a note receivable. During the current year, Irons has earned accrued interest revenue of $600 that it will collect next year. d. The beginning balance of supplies was $3,100. During the year, Irons purchased supplies costing $6,300, and at December 31 supplies on hand total $2,300. e. Irons is proiding services for Shark Investments, and the owner of Shark paid Irons an annual service fee of $10,900. Trons recorded this amount as Uneared Service Revenue. Irons estimates that it has earned 60% of the total fee during the current year. U. Tons Tas a more receivable. During the current year, or nas came accrue eres revenue or puvu that it will collect next year. d. The beginning balance of supplies was $3,100. During the year, Irons purchased supplies costing $6,300, and at December 31 supplies on hand total $2,300. . Irons is providing services for Shark Investments, and the owner of Shark paid Irons an annual service fee of $10,900. Irons recorded this amount as Unearned Service Revenue. Irons estimates that it has earned 60% of the total fee during the current year. f. Depreciation for the current year includes Office Furniture, $4,100, and Equipment, $6,100. Requirement 1. Journalize the adjusting entry needed on December 31, the end of the current accounting period, for each of the following independent cases affecting Irons Corporation. Include an explanation for each entry Date Accounts and Explanation Debit Credit Dec 31