a. The details of Prepaid Insurance are as follows: Prepaid Insurance Jan 1 Bal 2,200 Mar 31 3,700 Jackson prepays insurance on March 31 each year. At December 31, $1,100 is still prepaid. b. Jackson pays employees each Friday. The amount of the weekly payroll is $6,000 for a five-day work week. The current accounting period ends on Monday. c. Jackson has a note receivable. During the current year, Jackson has earned accrued interest revenue of $400 that it will collect next year. d. The beginning balance of supplies was $2,800. During the year, Jackson purchased supplies costing $6,400, and at December 31 supplies on hand total $2,300. e. Jackson is providing services for Seal Coast Investments, and the owner of Seal Coast paid Jackson an Consider each of the following independent cases: AlClick the icon to view the independent cases.) Requirement 1. Journalize the adjusting entry needed on December 31, the end of the current accounting period, for each of the independent cases affecting Jackson Corporation. Include an explanation for each entry. a. Details of the Prepaid Insurance account reveal a January 1 (beginning of the year) debit balance of $2,200 and a debit to the account on March 31 for $3,700 to record the payment of an annual insurance premium. At December 31, $1,100 is still prepaid. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Journal Entry Accounts and Explanation Date Debit Credit Dec 31 b. Jackson pays employees each Friday. The amount of the weekly payroll is $6,000 for a five-day work week. The current accounting period ends on a Monday. Journal Entry Date Accounts and Explanation Debit Credit Dec 31 c. Jackson has a note receivable. During the current year, Jackson has earned accrued interest revenue of $400 that it will collect next year. Journal Entry Date Accounts and Explanation Debit Credit Dec 31 d. The beginning balance of supplies was $2,800. During the year, Jackson purchased supplies for $6,400, and at December 31 the supplies on hand total $2,300. Journal Entry Date Accounts and Explanation Debit Credit Dec 31 e. Jackson is providing services for Seal Coast Investments, and the owner of Seal Coast paid Jackson $11,300 as the annual service fee. Jackson recorded this amount as Unearned Service Revenue. Jackson estimates that it has earned 70% of the total fee during the current year. Journal Entry Date Accounts and Explanation Debit Credit Dec 31 f. Depreciation for the current year includes Office Furniture, $3,700, and Equipment, $6,200. (Make one journal entry for all depreciation.) Journal Entry Accounts and Explanation Debit Credit Date Dec 31