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, $500. Payments for insurance during the period, $2,000. Prepaid insurance, ending, $400, Journal Entry Accounts a. Insurance Expense Prepaid insurance b. Interest revenue accrued, $2,500 b. Debit Credit 2,100 2,100 Journal Entry Accounts Debit Credit Requirements 1. Joumalize the adjusting entries. 2. Suppose the adjustments were not made. Calculate the overall overstatement or understatement of net income resulting from the omission of these adjustments. X More info a. Prepaid insurance, beginning. $500. Payments for insurance during the period, $2,000. Prepaid insurance, ending, $400. b. Interest revenue accrued, $2,500. c. Ureamed service revenue, beginning, $1,700. Uneamed service revenue. ending, $300. d. Depreciation on buiding, $5,600. e. Employees' salaries owed for two days of a five-day work week weekly payroll, $19.000 f. Income before income tax, $21,000. Income tax rate is 35% Print Done Clear all Check answer