Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference to show the ending balance of each account. The unadjusted balance of Office Supplies at Dec. 31 is $11,000 and at year end the office supplies on hand totaled $1,520. Adjustment Type Supplies Expense Office Supplies Incurred interest expense for the last month of the year. Interest for the entire year is $5,280. Adjustment Type Interest Expense Interest Payable A two year insurance policy for $5,280 was purchased on November 1 of the current year. Record the transaction for the year ended December 31. Adjustment Type: Insurance Expense Prepaid Insurance lize the adjusting entry needed at December 31 for each situation. Use the Chart of Accounts to review account names! Insurance for the next six months was paid on November 1st in the amount of $810. Record the journal entry for insurance expired at year-end. Date Accounts and Explanation Debit Credit Used office supplies of $3,600 Date Accounts and Explanation Debit Credit Customers were billed for $3,300 for work completed. Date Accounts and Explanation Debit Credit