Journalize the adjusting entry needed on December 31, the company's year-end, for each of the following independent cases affecting East Coast Communications. (Click the icon to view the independent cases.) a. The beginning balance of Supplies was $6,400. During the year, the company purchased supplies costing $8,000, and at December 31, the inventory of supplies remaining on hand is $4,400 Record the supplies expense for the year, Journal Entry Date December 31 Accounts Debit Credit Independent Cases Data a. The beginning balance of Supplies was $6,400. During the year, the company purchased supplies costing $8,000, and at December 31, the inventory of supplies remaining on hand is $4,400. b. Each Friday, the company pays its employees for the current week's work. The amount of the payroll is $23,000 for a five-day workweek. The current accounting period ends on Monday. c. East Coast has received notes receivable from some clients for professional services. During the current year, East Coast has earned interest revenue of $800, which will be received next year. d. The company is developing a wireless communication system for a large company, and the client paid East Coast $180,000 at the start of the project. East Coast recorded this amount as Unearned Consulting Revenue. The development will take several months to complete. East Coast executives estimate that the company has earned 30 percent of the total fee during the current year. e. Amortization for the current year includes the following: Office Furniture, $9,200, and Design Equipment, $24,000. Make a compound entry. (Hint: This means to show everything in one journal entry, not two.) f. Details of Prepaid Insurance are shown in the account. Print Done Independent Cases Data c. East Coast has received notes receivable from some clients for professional services. During the current year, East Coast has earned interest revenue of $800, which will be received next year. d. The company is developing a wireless communication system for a large company, and the client paid East Coast $180,000 at the start of the project. East Coast recorded this amount as Unearned Consulting Revenue. The development will take several months to complete. East Coast executives estimate that the company has earned 30 percent of the total fee during the current year. e. Amortization for the current year includes the following: Office Furniture, $9,200, and Design Equipment, $24,000. Make a compound entry. (Hint: This means to show everything in one journal entry, not two.) f. Details of Prepaid Insurance are shown in the account. Prepaid Insurance Jan. 2 Bal. 7,600 East Coast Communications prepays a full year's insurance on January 2. Record insurance expense for the year ended December 31 as one annual adjustment for what was used for the year. Print Done