II. Journalize the following transactions for the quarter ended September 30: 1. $16,000 of supplies were purchased Jan. 1; Supplies on hand September 30 was $6,500 2. A one-year insurance policy purchased Jan. 1 for $24,000 3. On Jan. 1, rent was paid in advance for one year, $36,000 4. A 1-year 25,000, 8.25% note payable was signed Jan. 1 5. Equipment depreciates $850 per month 6. Six employees worked the last 4 days of September, each earning $350 per day; This has not been paid or recorded 7. $48,000 was accepted on Jan. 1 for work to be performed at a future date; Work is performed uniformly during the year, record what has been earned during the third quarter. 8. Revenue earned during the quarter but not yet received or recorded totaled $28,500