Dodie Company completed its first year of operations on December $31.$ All of the year's entries have been recorded except for the

following:

a$.$ At year$-$end, employees earned wages of $$5,000,$ which will be paid on the next payroll date in January of next year.

b$.$ At year$-$end, the company had earned interest revenue of $$2,000.$ The cash will be collected March $1$ of the next year.

A$+$T Williamson Company is making adjusting entries for the year ended December $31$ of the current year. In developing information

for the adjusting entries, the accountant learned the following:

a$.$ A two$-$year insurance premium of $$6,000$ was paid on October $1$ of the current year for coverage beginning on that date. The

bookkeeper debited the full amount to Prepaid Insurance on October $1.$

b$.$ At December $31$ of the current year, the following data relating to Shipping Supplies were obtained from the records and

supporting documents.

Shipping supplies on hand, January $1$ of the current year

Purchases of shipping supplies during the current year

Shipping supplies on hand, counted on December $31$ of the current year

Required:

In each of the transactions for Dodie Company and A$+$T Williamson Company, indicate the effect of the adjusting entry on the elements

of the balance sheet and income statement.

Note: Enter negative amounts with a minus sign.