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Question 5 4 pts Q5 Adjusting entry: At the end of the financial year (August 31, 2021), Design Thinking Pty Ltd had used up a 12 month insurance policy originally recorded as an asset. The insurance policy cost $14,000 on September 1, 2020. Instructions: Record the adjusting entry for the year ending 31 August 2021 for Design Thinking Pty Ltd by selecting the correct accounts and amounts that are debited and credited. (4 marks) General Journal August 31. [ Select ] [ Select ] [ Select ] [ Select ] [ Select] Select account/amount Cash Accounts Receivable Supplies Prepaid Insurance Prepaid Rent Truck Accumulated Depreciation Truck Asset Land Accounts Payable Wages Payable Loan Payable Contributed Capital Retained Earnings Repair Service Revenue Expense Depreciation Expense Insurance Expense Wages Expense Service revenue $100 $2,000 $7,000 $14,000