For each of the situations, prepare the journal entry for the original transaction. For each of the situations, prepare any adjusting entry required at December 31. (If no entry is required, write "No Entry") Ouellette Corporation began operations on January 2. Its year end is December 31, and it adjusts its accounts annually. Selected transactions for the current year follow: On January 2, purchased supplies for $4,400 cash. A physical count at December 31 revealed that $800 of supplies were still on hand. January 2 December 31 2. Purchased a vehicle for $45,800 on April 1, paying $5,500 cash and signing a $40,300 bank loan for the balance. The vehicle is estimated to have a useful life of 5 years and the company uses straight-line depreciation. April 1 December 31 1,011 3 Purchased a $3,630, one-year insurance policy for cash on August 1. The policy came into effect on that date. August 1 December 31 4 Received a $1.880 advance cash payment from a client on November 9 for services to be performed in the future. As at December 31, half of these services had been completed, November 9 December 31 On December 1, the company rented additional office space for a six-month period starting on December for SH 100 each month. It paid rent for the months of December and January in advance on this date. December 1 December 31