An accountant made the following adjustments at December 31, the end of the accounting period: (Click the icon to view the adjustments.) Read the requirements. Requirement 1. Journalize the adjusting entries. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Prepaid insurance, beginning, $800. Payments for insurance during the period, $2,700. Prepaid insurance, ending, $700. a. Journal Entry Accounts Debit Credit More info a. Prepaid insurance, beginning, $800. Payments for insurance during the period, $2,700. Prepaid insurance, ending, $700. b. Interest revenue accrued, $2,400. c. Unearned service revenue, beginning, $1,900. Unearned service revenue, ending, $500. d. Depreciation on building, $5,900. e. Employees' salaries owed for two days of a five-day work week; weekly payroll, $15,000. f. Income before income tax, $28,000. Income tax rate is 35%. Print Done This t Requirements 1. Journalize the adjusting entries. 44 2. Suppose the adjustments were not made. Calculate the overall overstatement or understatement of net income resulting from the omission of these adjustments. Print Done Enter the amounts of either the overstatement or understatement of net income as a result of omitting these adjustments. (Use parentheses or a minus sign when entering understatements.) Net income over under) statement as a result of omission Insurance Expense Interest Revenue Service Revenue Interest Revenue Service Revenue Depreciation Expense Salary Expense Income Tax Expense Total over (under) statement of net income