Adpating Entres Shop Rite Sernices is reach to prepare its financul statements for the yeat cnded Incertikn: The following information can be determincd loy analyzing the accounts 1. On Augua 1, 2017. Shop Rite rceived a 54,400 payment in advance for rental of ulfict Muas The rontal period is for one year beginning on the date payment was rexeved whop lthe rocorded the reccipt as unearned rent. 2. On March 1. 2017. Shop Rite paid its insurance agent 53,000 for the premium due an a 24 -mmiah comporate policy. Shop Rite recorticd the payment as prepaid inuurance 3 Shop Rite pays its employee wages the middle of each month. The monthly payroll (tgnoring payrodl takes) is $22,000. 4. Shop Rite received a note from a cusomer on June 1, 2017, as pument for wervices. The amount of the note is 51,000 with interest at 12m. The note and interest will be paid on June 1, 2019 5. On Decemher 20, 2017. Shop Rite received a $2,500 check for services. The transaction was recorded as unearned revenue. Hy year-end, Shop Rite had completed three-fourths of the comtracted services. The rest of the services won' be completed until at least the midtle of January 2018. 6. On Scptember 1, Shop Rite purchased 5500 worth of supplies. At 1hecemlwer 31, 2017, one-fourth of the supplics had been used. Shop Rite initially recorded the purchase of supplics as an avet. Where appropriate, prepare adpuaing journal cntries at December $1,2017, for cach of these items