Cr Wellan Company had just completed its October 31st year end. The following are some of the unadjusted account balances from its October 31, 2021 unadjusted trial balance: Office supplies Dr inventory 6,000 Office equipment 100,000 Dr Unearned consulting fees 45,000 Wages payable 3,600 Cr Consulting fees earned 364,000 Cr Insurance expense 24,000 Dr Supplies expense 12,000 Dr Wages expense 178,000 Dr 2. Prepare prepare any adjusting journal entries required for Wellan Company for October 31, 2021, assuming that the items have not been adjusted prior to October 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Office equipment 1. The office equipment noted above was purchased on February 1, 2021. It was estimated to have a useful life of 5 years. 2. It was determined that $24,000 of the consulting fees remains unearned by July 31, 2021. 3. The company only has 30 employees. Each employee receives $600 per day and works five days a week (Monday to Friday). Last pay day was Friday, October 27, 2021. The salary expense was paid and recorded on November 3, 2021. 4. During 2021, supplies amounting to $12,000 were purchased for cash and debited to supplies expense. At the end of fiscal 2021, the inventory of supplies remaining on hand (unused) was $5,000. 5. On May 1, 2021, a one-year insurance premium on the office equipment in the amount of $12,000 was paid and debited in full to insurance expense on that date. Coverage began on May 1. Note: Enter debits before credits. General Journal Debit Credit Transaction 1. Required: 1. For each of the items listed above, identify whether an accrual adjustment, a deferral adjustment, or no adjustment is required. Record entry View general journal Transaction Type of Adjustment Clear entry 1. 2. 3. 4. 5