An accountant made the following adjustments at December 31, the end of the accounting period: a. Prepaid insurance, beginning, $700. Payments for insurance during the period, $1,810. Prepaid insurance, ending, $990. b. Interest revenue accrued, $1,500. c. Unearned service revenue, beginning, S1,300. Unearned service revenue, ending, $850. d. Depreciation, $4,600 Employees' salaries owed for three days of a five-day work week; weekly payroll, $19,800. f. Income before income tax, $24,100. Income tax rate is 25%. e. 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 omission of these adjustments. (Use parentheses or a minus sign for any understated amounts and totals.) ..... Requirement 1. Journalize the adjusting entries. (Record debits first, then credits. Explanations are not required. Leave unused cells blank.) a. Prepaid insurance, beginning, $700. Payments for insurance during the period, S1,810. Prepaid insurance, ending, $990. Journalize the adjusting entry for insurance expense. Journal Entry Accounts Debit Credit a. b. Interest revenue accrued, $1,500. Journalize the adjusting entry for the interest revenue accrued. Journal Entry Accounts Debit Credit b. c. Unearned service revenue, beginning, $1,300. Unearned service revenue, ending, $850. Journalize the adjusting entry for the unearned service revenue earned. Journal Entry Accounts Debit Credit C. d. Depreciation, $4,600. Journalize the adjusting entry for depreciation. Journal Entry Accounts Debit Credit d. e. Employees' salaries owed for three days of a five-day work week, weekly payroll $19,800. Journalize the adjusting entry for the employee salaries owed. Journal Entry Accounts Debit Credit f. Income before income tax, $24, 100. Income tax rate is 25% Journalize the adjusting entry for income tax expense. Journal Entry Accounts Debit Credit f. 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 adjustments. Select the account from the list and enter the amount of either the overstatement or understatement of the net income as a result of omitting these adjustments. (Use parentheses or a minus sign when entering understatements. Leave unused cells blank. Complete the entire table before checking your answer. Net income overstated by omission of Total overstatement Net income understated by omission of: Total understatement Overall effect - net income overstated (understated) by: xi