es Problem 3-30A (Static) Recording adjusting entries in general journal format LO 3-2 Each of the following independent events requires a year-end adjusting entry. a. Paid $48,000 cash in advance on July 1 for a one-year lease on office space. b. Purchased $5,000 of supplies on account on April 15. At year-end, $500 of supplies remained on hand. c. Received a $9,600 cash advance on July 1 for a contract to provide services for one year beginning immediately. d. Paid $5,400 cash in advance on February 1 for a one-year insurance policy. Required Record each event and the related adjusting entry in general journal format. The first event is recorded as an example. Assume a December 31 closing date. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Date July 1 Debit Credit Account Titles Prepaid rent 48,000 Cash 48,000 December 31 Rent expense (48,000 6/12) 24,000 Prepaid rent 24,000 View transaction list Journal entry worksheet