Exercise 3-6 Preparing adjusting entries LO P1 a Depreclation on the company's equipment for 2017 is computed to be $12000. b. The Prepald Insurance account had a $9,000 deblt balance at December 31, 2017, before adjusting for the costs of any explred coverage. An analysls of the company's Insurance policles showed that $1.110 of unexplred Insurance coverage remains. C. The Office Supplies account had a $460 deblt balance on December 31, 2016; and $2.680 of office supplies were purchased during the year. The December 31, 2017, physical count showed $543 of supplles avallable. d. One-fifth of the work related to $10,000 of cash recelved In advance was performed this perlod e. The Prepald Insurance account had a $5.100 debit balance at December 31. 2017, before adjusting for the costs of any explred coverage. An analysls of Insurance pollcles showed that $3.990 of coverage had explred. f. Wage expenses of $3,000 have been Incurred but are not pald as of December 31, 2017 Prepare adjusting Journal entrles for the year ended (dateofDecember 31, 2017, for each of these separate sltuations. ew transaction lst Journal entry worksheet Depreciation on the company's equipment for 2017 is computed to be $12,000 Note: Enter debits before credits. Transaction General Journal DebitCredit Record entry Clear entry Mew general journal