Cayuga Ltd prepared the following trial balance at the end of its first year of operations ended December 31. To simplify the case, the amounts given are in thousands of dollars Other data not yet recorded at December 31 are as follows unadjusted Debit Credit $40 11 8 120 $ 12 11 Account Tatles Cash Accounts receivable Prepaid insurance Machinery (20-year lite, no residual value) Accumulated depreciation Accounts payable Wages payable Incone taxes payable Contributed capital (6.600 shares) Retained earnings (deficit) Revenues (net detailed) Expenses (not detailed) Totals 102 94 34 $219 $219 Insurance expired during the year, $6 b Depreciation expense for the year. $6 Wages payable, $10 d. Income tax expense, $11 Required: 1. Prepare the adjusting entries for the year (Enter your answers in thousands of dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction tist Journal entry worksheet 2 3 4 Record adjusting entry for wages Note Enter debts before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal View transaction list X X 0 Record insurance expired. 2 Record depreciation expense. \ \\ 3 Record adjusting entry for wages. 4 Record income tax expense. Cru Note : = journal entry has been entered Record entry Clear entry View g