Instructions Chart of Accounts General Journal Instructions Gizmo Inc. purchased a one-year insurance policy on October 1 for $3,480. Required: L Prepare the adjusting entry on December 31. Refer to the Chart of Accounts for exact wording of account titles Instructions Chart of Accounts General Journal Instructions G Chart of Accounts CHART OF ACCOUNTS Gizmo Inc. General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 16 Office Building 17 Accumulated Depreciation-Office Building REVENUE 41 Fees Earned EXPENSES 51 Advertising Expense 52 Insurance Expense 53 Interest Expense 54 Wages Expense Instructions Chart of Accounts General Journal instructions Gi Chart of Accounts 54 Wages Expense LIABILITIES 21 Accounts Payable 22 Notes Payable 23 Unearned Fees 24 Wages Payable 25 Interest Payable 55 Supplies Expense 56 Utilities Expense 57 Depreciation Expense 59 Miscellaneous Expense EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends Instructions Chart of Accounts General Journal Instructions General Journal Prepare the adjusting entry on December 31. Refer to the Chart of Accounts for exact wording of account titles X ACCOUNTING EQUATE LIABILITIES JOURNAL DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS