Cayuga Ltd. prepared the following trial balance at the end of its first year of operations ending December 31, 2018. To simplify the case, the amounts given are in thousands of dollars. Other data not yet recorded at December 31, 2018, are as follows:

E4-16 Recording Four Adjusting Entries, Completing a Trial Balance, Preparing Financial Statements, and Recording Closing Entries LO4-1, 4-2, 44 Cayuga Ltd. prepared the following trial balance at the end of its first year of operations ending December 31, 2018. To simplity the case, the amounts given are in thousands of dolars, Other data not yet recorded at December 31, 2018, are as follows: Unadjusted Account Tises Debit Credit Cash 49 20 Prepaid insurance Machinery (20-year life, no residual value) 100 10 20 Accounts payable Wages payable Income taxes payable Contributed capital (5,000 shares) Retained earnings (deficit) Revenues (not detailed) Expenses (not detailed) 85 109 43 Totals 224 224 a. Insurance expired during 2018, $5. b. Depreciation expense for 2018, $5. c. Wages payable, $11 d. Income tax expense, $20. Required: 1. Prepare the adjusting entries for 2018. (Enter your answers in thousands of dollars. If no entry is required for a transactionlevent, select "No journal entry required" in the first account field.)