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. a. Paid 96.800 cash in advance on April 1 for a one-year insurance policy. b. Purchased $2,000 of supplies on account. At year's end. $180 of supplies remained on hand. c. Paid $5,400 cash in advance on March 1 for a one-year lease on office space. d. Receded an $14,220 cash advance for a contract to provide services in the future. The contract required a one-year commitment starting September 1