An accountant made the following adjustments at December 31 , the end of the accounting period: a. Prepaid insurance, beginning, \$600. Payments for insurance during the period, $1,800. Prepaid insurance, ending, $1,000. b. Interest revenue accrued, $1,500. c. Uneamed service revenue, beginning, $1,200. Unearned service revenue, ending, $800. d. Depreciation, $4,400. e. Employees' salaries owed for three days of a five-day work week; weekly payroll, $20,000. f. Income before income tax, $24,000. Income tax rate is 25%. Requirements 1. Journalize the adjusting entries. 2. Suppose the adjustments were not made. Compute the overall overstatement or understatement of net income as a result of the omis Requirement 1. Journalize the adjusting entries. (Record debits first, then credits. Explanations are not required. Leave unused cells blank.) a. Prepaid insurance, beginning, $600. Payments for insurance during the period, $1,800. Prepaid insurance, ending, $1,000. Journalize the adjusting entry for insurance expense. b. Interest revenue accrued, $1,500. Journalize the adjusting entry for the interest revenue accrued. c. Unearned service revenue, beginning, $1,200. Unearned service revenue, ending, $800 Journalize the adjusting entry for the unearned service revenue earned. Journalize the adjusting entry for depreciation. f. Income before income tax, $24,000. Income tax rate is 25%. Journalize the adjusting entry for income tax expense. Requirement 2. Suppose the adjustments were not made. Compute the overall overstatement or understatement of net income as a result of the omission of these adjustm when entering understatements. Leave unused cells blank. Complete the entire table before checking your answer.)