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 $$4,000,$ 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 $$1,500.$ The cash will be collected March $1$ of the next yea

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 $$4,800$ 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

$$13,000$

$75,000$

$20,000$

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.

Note: Enter negative amounts with a minus sign.

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