Activity 5.a - Journalizing Adjusting Transactions Journalize the adjusting entry needed at December 31 for each situation. Record debits first, then credits. Check your spelling carefully and do not abbreviate. Use account names exactly as given in the Chart of Accounts Employees earned $2,300 in salaries that will be paid next month. Date Accounts and explanation Debit Credit Insurance for the next six months was paid on November 1st in the amount of $1,440 Record the journal entry for the two months of insurance expired at year-end. nate Denne Insurance for the next six months was paid on November 1st in the amount of S1,440. Record the journal entry for the two months of insurance expired at year-end, Date Accounts and explanation Debit Credit Depreciation for the current year includes Equipment, $3,000. Date Accounts and Explanation Debit Credit