Exercise 12.4 (Algo) Preparing adjustments for accrued and prepaid expense items. LO 12-2 a. On December 31, 20X1, the Notes Payable account at Northwood Manufacturing Company had a balance of $11,500. This balance represented a three-month, 9 percent nole issued on November 1. b. On January 2, 20X1. Hitech Computer Consultants purchased flash dives, poper, and other supplies for $6,380 in cash. On December 31, 20X1, an inventory of supplies showed that items costing $1,660 were on hand. The Supplies account has a balance of $6,380 c. On October 1, 20X1. North Dakota Manufacturing paid a premtum of $14.040 in cash for a one-year insurance policy. On December 31. 20x1, the Prepoid Insurance account has a balance of $14,040 d. On June 1, 20x1, Headcase Beauty Salon signed a one-year advertising contract with a local radio station and issued a check for \$12,360 to pay the fotal amount owed. On December 31,201, the Prepoid Advertising account has a bilance of $12,360 For each of the above independent situations, prepare the adjusting entries that must be made on the December 31,201, worksheet assuming no previous adjusting entries have been made during the yeat. (Round your answers to 2 decimol places.)