I need help with journal of Dec 31 transactions December 31 One month of the 12-month, $4,740 insurance policy is expired by December 31. This leaves $4,345 not yet expired. December 31 A physical count of supplies on December 31 shows that only $1,295 of supplies remain of the $2,190 supplies purchased. December 31 The $8,280 of equipment purchased at the beginning of December has a useful life of 5 years and will be worth nothing at the end of 5 years (60 months). The business uses straight-line depreciation to allocate the $8,280 net cost over 60 months. On December 31, 1 month of depreciation must be recorded. December 31 The business agreed on December 23 to provide a 4-week training service to a customer for a fixed fee of $1,980 paid in advance. By December 31, the business has provided 1 of the 4 weeks of services and earned one-fourth of the fee. No revenue is yet recorded. December 31 On December 31, wages of $695 are owed to a part-time employee for work done over the past 3 weeks. Those wages are not yet paid or recorded. December 31 The business agreed to provide 6 weeks of training services to a customer for a fee of $4,770, or $795 per week. The customer agrees to pay the full $4,770 at the end of 6 weeks when services are complete. By December 31, 2 weeks of services have been provided, but the business has not yet billed the customer or recorded the 2 weeks of services provided