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1. Dodie Company completed its first year of operations on December 31. All of the year's entries have been recorded except for the following a. At year-end, employees earned wages of $5,200, which will be paid on the next payroll date in January of next year b. At year-end, the company had earned interest revenue of $2,100. The cash will be collected March 1 of the next year. 2. AT Williamson Company is making adjusting entries for the year ended December 31 of the current year. In developing information for the adjusting entries, the accountant learned the following: a. A two-year insurance premium of $6,240 was paid on October 1 of the current year for coverage beginning on that date. The bookkeeper debited the full amount to Prepaid Insurance on October 1. b. At December 31 of the current year, the following data relating to Shipping Supplies were obtained from the records and supporting documents. Shipping supplies on hand, January 1 of the current year Purchases of shipping supplies during the current year Shipping supplies on hand, counted on December 31 of the current year $ 15,400 87,000 26,089 Required: For each of the transactions in Dodie Company and A+T Williamson Company, indicate the amount and the direction of effects of the adjusting entry on the elements of the balance sheet and income statement. Using the table below, indicate + for increase and for decrease. (Enter negative amounts with a minus sign.) Transaction (1-a) (1-5) Balance Sheet Income Statement Assets Liabilities Stockholders Revenues Expenses Net Income Equity 5,200 (5,200) 5,200 (5,200) 2,100 2,100 2,100 2.100 (780) (780)| 780 (780) (76,400)| (76,400) 76,400 (76,400) (2-a) (2-6) Oakwood Company had accounts receivable of $756,000 and an allowance for doubtful accounts of $27500 just prior to writing off as worthless a customer's SILOO account receivable. The net realizable value of Oakwood's accounts receivable as shown by the accounting records before and after the write off was as follows Multiple Choice Before $728,500 After $717,500 Before $756,000 $745,000 Before $728.500 After $728,500