Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid, Accrual, or Depreciation. Use Unadj. Bal. as the label for the opening balance of each account. Calculate the adjusted balance and use a Bal. posting reference to show the ending balance of each account. Enter each transaction on the first available line in the T-Account. A two-year insurance policy for $5,280 was purchased on November 1 of the current year. Record the transaction for the two months ended December 31. Adjustment Type: Deferrals/Prepaids Insurance Expense Prepaid Insurance Dec 31 5820 11640 Depreciation for the current year includes Equipment, $3,920. The Accumulated Depreciation - Equipment unadjusted balance as of December 31 is $9,800. Adjustment Type: Depreciation Expense - Equipment Accumulated Depreciation - Equipment Completed services that were paid for six months earlier, $2,450. Completed services that were paid for six months earlier, $2,450. The Service Revenue unadjusted balance as of December 31 is $9,000. The Unearned Revenue balance as of December 31 is $9,500. Adjustment Type: Unearned Revenue Service Revenue