Each of the following independent events requires a year-end adjusting entry. Show how each event and its related adjusting entry affect the accounting equation. Assume a December 31 closing date. The first event is recorded as an example. (Do not round intermediate calculations & Round your final answer to nearest whole dollar.) a. Paid $5,600 cash in advance on October 1 for a one-year insurance policy. b. Received an $4,400 cash advance for a contract to provide services in the future. The contract required a one-year commitment, starting April 1. c. Purchased $1,600 of supplies on account. At year's end, $215 of supplies remained on hand. d. Paid $10,560 cash in advance on August 1 for a one-year lease on office space. Event Adjustment The Accounting Equation Total Assets Other - Liabilities Cash Assets (5.600) 5 600 11.400 - Stockholders' Equity Common Retained Stock Earnings + b Adj C. Ad