Journalize the adjusting entry needed at December 31 for each situation. Use the Chart of Accounts to review account names! A two year insurance policy for $5,280 was purchased on November 1 of the current year. Record the transaction for the year ended December 31. Date Accounts and Explanation Debit Credit Customers were billed for $600 for work completed. Date Accounts and Explanation Debit Credit Employees earned $4,600 in salaries that will be paid next month. Date Accounts and Explanation Debit Credit 182 201 205 210 215 220 225 235 250 255 260 301 315 320 325 Trademark Accounts Payable Rent Payable Salaries Payable Utilities Payable Interest Payable Dividends Payable Unearned Revenue Notes Payable Mortgages Payable Premium on Bonds Payable Common Stock Retained Earnings Dividends Income Summary Service Revenue Dividend Revenue Interest Revenue Advertising Expense Delivery Expense Depreciation Expense Insurance Expense Interest Expense Repairs and Maintenance Expense Rent Expense Salaries Expense Supplies Expense Utilities Expense 410 420 430 505 510 515 520 525 535 540 545 550 555 Account Title Account Number 101 105 110 112 115 120 125 130 140 145 146 150 Cash Accounts Receivable Interest Receivable Notes Receivable Office Supplies Prepaid Insurance Prepaid Rent Short-term Investments Long-term Investments Building Accumulated Depreciation - Building Equipment Accumulated Depreciation - Equipment Furniture Accumulated Depreciation - Furniture Office Furniture Accumulated Depreciation - Office Furniture Truck Accumulated Depreciation - Truck Land Copyright Franchise 151 155 |156 160 161 165 166 170 175 178 180 Patent