Attached are the templates and requirements for this homework assignment

Adjustment Account and details 1 REF Debit Credit Interest Expense Interest Payable To record December interest expense to be paid in January 2 Expense for Outside Services Accounts Payable To record liability towards contractor 3 Rental Expenses Prepaid Rent Cash To record the appropiate rental expense for the month 4 Wage Expense Wages Payable To record liability towards employees 5 Prepaid Insurance Cash To record insurance payment for the following year Total $0 $0 TRIAL BALANCE Starting Balance Debit (+) Credit (-) Adjusting Entry 1 Debit (+) Credit (-) Adjusting Entry 2 Debit (+) Credit (-) Adjusting Entry 3 Debit (+) Credit (-) Adjusting Entry 4 Debit (+) Credit (-) Adjusting Entry 5 Debit (+) Credit (-) Cash Prepaid Rent Prepaid Insurance Finished Goods Receivables Machinery and Equipment Building Common Stock Bank Loans Accounts Payable Interest Payable Wages Payable Sale of Goods Produced Cost of Goods Sold Expense for Outside Services Wage Expenses Rent Expense Depreciation Insurance Expense Interest Expense - - - - - - - - - - - Adjusted Trial Balance Debit (+) Credit (-) - AC1420: Week 2 Adjusted Trial Balance The following adjustments need to be made before the financial statements can be prepared at the end of the year. Task 1: Enter the necessary journal entries into the template provided and provide the journal entry for each. December Interest on a bank loan is due on January 2nd of the following year: accrue $1,000. A contractor (outside services) has finished work on December 31st, but the invoice will not be received until January 7th of the following year: accrue $750. A rent payment was made on December 1st for three months from December 1st to February 28th of the following year (6,000 in total). Record the transaction properly. The company's part-time employees worked a total of 50 hours in December, but will get paid only by January 5th. The hourly rate is $15. The company must record the payment of its annual insurance premium for next year. The annual premium is $1,200, an adjustment is necessary to prepaid insurance. Task 2: Provide the adjusted trial balance (combine exercises 2.1 and 2.2 to show the adjusted trial balance). Submission Requirements: Click here to download the template for calculation. Evaluation Criteria: Criteria Did you enter the correct journal Points Assigned Points Earned 40% entries? Did you develop the adjusted trial 60% balance? Page 1