EWUIR ASSIyment A i Saved Help At December 31, the unadjusted trial balance of H&R Tacks reports Equipment of $30,500 and zero balances in Accumulated Depreciation and Depreciation Expense. Depreciation for the period is estimated to be $6,100. Required: 1. Prepare the adjusting journal entry on December 31. 2. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance. Complete this question by entering your answers in the tabs below. your answers in the Required 1 Required 2 Prepare the adjusting journal entry on December 31. (If no entry is required for a transaction/event, select 'No Journal Entry Required in the first account field. View transaction ist Journal entry worksheet te to search At December 31, the unadjusted trial balance of H&R Tacks reports Prepaid Insurance of $8,400 and Insurance Expense of $0. The insurance was purchased on July 1 and provides coverage for 24 months. Required: 1. Prepare the adjusting journal entry on December 31 2. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the adjusting journal entry on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry on December 3 Prev 3 of 7 Next ere to search