Green Valley Company prepared the following trial balance at the end of its first year of operations ending December 31. To simplify the case, the amounts given are in thousands of dollars. UNADJUSTED Debit Credit 17 14 9 76 1e Account Titles Cash Accounts receivable Prepaid insurance Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable Common stock (3,000 shares) Additional paid in capital Retained earnings Revenues (not detailed) Expenses (not detailed) Totals 3 56 79 24 148 148 Other data not yet recorded at December 31 include Other data not yet recorded at December 31 include a. Insurance expired during the current year, $5. b. Wages payable, $8. c. Depreciation expense for the current year, $10. d. Income tax expense, $11. Required: 1. Prepare the adjusting entries for the current year. 2. Complete the trial balance Adjustments and Adjusted columns. The "Ret" column is for the reference letter of the adjusting entry effect Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the adjusting entries for the current year. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in thousands.) View transaction ist Journal entry worksheet Record the insurance expired in current year but not recorded, $5. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general Journal GREEN VALLEY COMPANY Trial Balance December 31, Current Year Unadjusted Adjustments Debit Credit Ref. Debit 17 Adjusted Debit Credit Account Titles Credit 14 9 76 10 Cash Accounts receivable Prepaid insurance Machinery Accumulated dopreciation Accounts payable Wages payable Income taxes payable Common stock Additional paid-in capital Retained earnings Revenues (not detailed) 3 56 8 79 14 9 76 10 Accounts receivable Prepaid insurance Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable Common stock Additional paid-in capital Retained earnings Revenues (not detailed) 3 56 8 79 Expenses (not detailed) 24 148 Totals 148