Consider each of the following independent cases: (Click the icon to view the independent cases.) Requirement cting Nickelson Corporation. Include an explanation for a. Details insurance Da Dec b. Nickelsi Nickelson estimates that it has earned 80% of the total fee during the current year. f. Depreciation for the current year includes Office Furniture, $4,000, and Equipment, \$5,600. a. The details of Prepaid Insurance are as follows: Nickelson prepays insurance on March 31 each year. At December 31,$500 is still prepaid. b. Nickelson pays employees each Friday. The amount of the weekly payroll is $6,000 for a five-day work week. The current accounting period ends on Monday. c. Nickelson has a note receivable. During the current year, Nickelson has earned accrued interest revenue of $500 that it will collect next year. d. The beginning balance of supplies was $2,700. During the year, Nickelson purchased supplies costing $6,200, and at December 31 supplies on hand total $2,400. e. Nickelson is providing services for Dolphin Investments, and the owner of Dolphin paid Nickelson an annual service fee of $11,200. Nickelson recorded this amount as Unearned Service Revenue. Nickelson estimates that it has earned 80% of the total fee during the current year. Da Dec March 31 for $3,600 to record the payment of an annual nal entry table.) d ends on a Monday. c. Nickelson has a note receivable. During the current year, Nickelson has earned accrued interest revenue of $500 that it will collect next year. Consider each of the following independent cases: (Click the icon to view the independent cases.) Requirement 1. Journalize the adjusting entry needed on December 31, the end of the current accounting period, for each of the independent cases affecting Nickelson Corporation. Include an explanation for each entry. a. Details of the Prepaid Insurance account reveal a January 1 (beginning of the year) debit balance of $2,000 and a debit to the account on March 31 for $3,600 to record the payment of an annual insurance premium. At December 31, $500 is still prepaid. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Consider each of the following independent cases: (Click the icon to view the independent cases.) Requirement 1. Journalize the adjusting entry needed on December 31, the end of the current accounting period, for each of the independent cases affecting Nickelson Corporation. Inc each entry. c. Nickelson has a note receivable. During the current year, Nickelson has earned accrued interest revenue of $500 that it will collect next year. d. The beginning balance of supplies was $2,700. During the year, Nickelson purchased supplies for $6,200, and at December 31 the supplies on hand total $2,400. e. Nickelson is providing services for Dolphin Investments, and the owner of Dolphin paid Nickelson $11,200 as the annual service fee. Nickelson recorded this amount as l Revenue. Nickelson estimates that it has earned 80% of the total fee during the current year. Journal Entry Consider each of the following independent cases: (Click the icon to view the independent cases.) Requirement 1. Journalize the adjusting entry needed on December 31, the end of the current accounting period, for each of the independent cases affecting Nickelson Corporation. Include an explanation for each entry. e. Nickelson is providing services for Dolphin Investments, and the owner of Dolphin paid Nickelson $11,200 as the annual service fee. Nickelson recorded this amount as Unearned Service Revenue. Nickelson estimates that it has earned 80% of the total fee during the current year