ig tfidpendent cases at the end of the year on Each Friday, Laughter pays cmployees for the current week's work. The amount of the a. wcekly payroll is $ 7.000 for a five-day workweek. This year December 31 falls on a Wednesday b. Details of Prepaid insurance are shown in the accoun Prepaid insurancoe Jan 1 $4,500 Laughter prepays a full year's insurance cach year on January 1, Record insurance expense for the year ended December 31 c. The beginning balance of Supplies was $4,000. During the year, Laughter purchased supplies for $5,200, and at December 31 the supplies on hand total $2,400 d. Laughter designed a landscape plan, and the client paid Laughter $7,000 at the start of the project. Laughter recorded this amount as Unearned service revenue. The job will take several months to complete, and Laughter cstimates that the company has carned 60% of the total revenue during the current year Depreciation for the current year includes Equipment, $3,700; and Trucks, $1,300 Make a compound cntry e. Requirement Journalize the adjusting entry needed on December 31, 2014,for each of the vious items affecting Laughter Landscaping. ma Solution