e. firm uses the account Fees One customer paid $1,100 in advance for a refinishing project. At July 31, the project is one-half complete. C3-3B. Adjusting Entries For each of the following unrelated situations, prepare the necessary adjusting entry in general journal form: a. Unrecorded depreciation on equipment is $1,850. b. The Supplies account has a balance of $5,000. Supplies on hand at the end of the period total C. e. $2,500. On the date for preparing financial statements, an estimated utilities expense of $550 has been incurred, but no utility bill has been received. d. On the first day of the current month, rent for four months was paid and recorded as a $2,800 debit to Prepaid Rent and a $2,800 credit to Cash. Monthly statements are now being prepared. Nine months ago, Macke Insurance Company sold a one-year policy to a customer and recorded the receipt of the premium by debiting Cash for $624 and crediting Unearned Premium Revenue for $624. No adjusting entries have been prepared during the nine-month period. Annual finan- cial statements are now being prepared. f. g. At the end of the accounting period, employee wages of $700 have been incurred but not paid. At the end of the accounting period, $800 of interest has been earned but not yet received on notes receivable that are held. 3-4B. Statement of Stockholders' Equity On January 1, the credit balance of the Retained Earnings ac- count was $60,000. The company's common stock account had an opening balance of $85,000 and new contributions during the year totaled $9.000 On December 31 at year-end the Dividende