E8.1 On January 1, 2019, the start of its fiscal year, the Straley Company had these account balances: Office Supplies $2,780 Prepaid Insurance 2,000 Utilities Payable 2,200 During the year, the company was involved in the following operating events: Purchased $5,000 of office supplies on account January 14 March 15 April 1 Paid the $2,200 due on the utilities July 1 Paid the amount due on the office supplies Renewed the insurance policy by making a $6,400 cash payment for one year's premium. December 31 Received December's utility bill for $3,600, which is due January 15, 2020. A count of the office supplies indicates that $2,500 of office supplies are on hand. Make the entries for operating events listed above and make the appropriate adjusting entries on December 31, 2019. Date Description Debit Credit