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

At year$-$end, employees earned wages of $$4,400,$ which will be paid on the next payroll date in January of next year.

At year$-$end, the company had earned interest revenue of $$1,700.$ 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 two$-$year insurance premium of $$5,280$ 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 $1.$

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 $$13,800$

Purchases of shipping supplies during the current year $79,000$

Shipping supplies on hand, counted on December $31$ of the current year $22,000$

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.