Journalize the following adjusting and correcting entries. Adjusting Entries: 1. The supplies account balance on December 31 is $6,100. Supplies on hand are $5,150. 2. At the end of December, you calculated the amount of financial planning services that you provided to customers during the month to be $6,000. You are preparing to send your customers involces for this total to be collected for services performed but not yet collected 3. You purchased a one year insurance policy on November 1st for $18,000. Journalize the accrued expense as of December 31st Correcting Entries 4. The purchase of supplies with cash for $5,000 was erroneously recorded and posted as a debit to Supplies for $50,000 and a credit to cash for $50,000 5. A payment of $15,000 for accounts payable owed to a vendor was erroneously recorded and posted as a debit to Accounts Receivable and a credit to Cash