For each of the following adjusting entries, identify whether the entry is correct. If it is not correct, provide the correct entry in the journal on the next page and specify why the entry given below is wrong. a. Depreciation Expense 2, 800 Truck 2, 800 To record depreciation on the company truck for one year. The truck's original cost was $12, 200, with a $1,000 salvage value and an estimated life of four years. b. Tax Expense 500 Tax Receivable 500 The company received a property tax bill, due next month, for $500. c. Interest Receivable 50 Interest Expense 50 To record one month of interest expense. The two company borrowed $12,000 for years at 5% interest per year. Interest is due every six months. d. Prepaid Insurance 250 Insurance Expense 250 To record one month of insurance expense. Four months ago, the company paid $3,000 for one year of insurance coverage. e. Wages Expense 3,000 Wages Payable 3,000 To record wages for December 30 and 31, 2007, to be paid on January 5, 2008