E4-8 Recording Seven Typical Adjusting Entries L04-1 [The following information applies to the questions displayed below! Ditman's Variety Store is completing the accounting process for the current year just ended, December 31. The transactions during year have been journalized and posted. The following data with respect to adjusting entries are available . Wages earned by employees during December, unpaid and unrecorded at December 31, amounted to $4,600. The last payroll was December 28, the next payroll will be January 6 Office supplies on hand at January 1 of the current year towed $530 Office supplies purchased and debited to Office Supplies during the year amounted to $600. The year end count showed $325 of supplies on hand One-fourth of the basement space is rented to Head's Specialty Shop for $490 per month payable monthly Al the end of the current years, there for November and December had not been collected or recorded Collection is expected in January of the next year d. The store used every comentar that cost .DOO, SELDOO was the m anual depreciation e On July 1 of the current year, a two year insurance premium amounting to $1680 was paid in cash and debited in to Prepaid Insurance Coverage began on July of the current year 1. The remaining basement of the store is rented for $1.500 per month to another merchan. M. Carlon, ne Carlos holly compatible, but not compelleve merchandise on November of the current yeathe recorded the mount of $9.000 dance from Carlos credited to named Revenue when collected Dittmans Variety Store operates a real shop tot own the shop also does for Carlos Al the end of the current year Cars had not paid $750 for completed repairs. This amount has not yet been recorded as Ropa shop thovenus Collection waspected during January of next your References Section Break 4. Reconding seven yolcal Adusting Entien Lour! Required information Required Informat value: 12.00 points E4-8 Part 1 Required: 1. Identify each of the above transactions as a deferred revenue, deferred expense, accrued revenue, or accrued expense. POE O Part 2 2. Prepare the adjusting entries that should be recorded for Dittman's Variety Store at December 31 of the current year, no entry is required for a transaction event select "No journal entry required in the first account field) View transaction list Journal entry worksheet Wages eamed by employees during December, unpaid and unrecorded at December 31, amounted to $4,600. The last payroll was December 28; the next payroll will be January 6. Note b orec Debit Crede Transaction Record entry View general journal Clear entry