Balances 23,820 3,000 d. Fees earned 55,760 Balances 79,580 3,000 e. Paid expenses -24,955 Balances 54,625 3,000 f. Paid dividends -8,850 Balances 45,775 3,000 a1. Insurance expense Balances 45,775 V 3,000 a2. Supplies expense 0 X Balances, February 28 45,775 Adjustment Process Terry Mason organized The Fifth Season at the beginning of February 2014. During February, The Fifth Season entered into the following transactions: a. Terry Mason invested $30,750 in The Fifth Season in exchange for common stock. b. Paid $6,930 on February 1 for an insurance premium on a 1-year policy. c. Purchased supplies on account, $3,000. d. Received fees of $55,760 during February. e. Paid expenses as follows: wages, $18,600: rent, $3,100; utilities, $1,550; and miscellaneous, $1,705. f. Paid dividends of $8,850. The transactions above have already been recorded in the integrated financial statement framework below. Record the adjusting entries at the end of February to record the insurance expense and supplies expense. There was $1,950 of supplies on hand as of February 28. Identify the adjusting entry for insurance as (a1) and supplies as (a2). Use the integrated financial statement framework below. After each transaction, enter a balance for each item. If an amount box does not require an entry, leave it blank, If required mund you