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Kebab Heaven, had the following separate situations occur during 2020. The company's accountant is preparing the annual financial statements at December 31, 2020 and has

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Kebab Heaven, had the following separate situations occur during 2020. The company's accountant is preparing the annual financial statements at December 31, 2020 and has asked you to prepare the adjusting entries for each situation. You must show your calculations for full points. Please omit journal entry descriptions. a) The Supplies account had a beginning of the month balance of $1125. During the month (December)an additional $800 of supplies were purchased. The ending balance in supplies was $450 b) On August 1, the company prepaid for annual insurance in the amount of $90,000. The last adjusting entry was made Sep 30 c) Employees will earn $75,000 for the five day week starting Monday, December 28. Thursday is the end of the year. Employees were paid through the previous Friday and will not be issued another paycheck until January 2, 2021. d) On August 1st, Belle College a customer, made an advance payment for a first Friday drink party where employees are sent a drink the first Friday of every month for the next year, starting September. They paid $12,000 for the next year. As of December 31, 2020, no adjusting entries have been recorded for this. e) The company took out a loan of $125,000 to purchase a machine on April 1. Interest on the loan is 6% per year. The last adjustment the company recorded was made on Oct 31. Record the end of year adjusting entry related to the loan. ) The company took out a loan of $125,000 to purchase a machine on April 1. It will depreciate at $25,000 per year. The last adjustment the company recorded was made on Oct 31. Record the end of year adjusting entry. REQUIRED: Prepare the adjusting entries for each situation for the annual financial statements at December 31, 2020. SAMPLE TABLE. ADD AS NECESSARY. Credit Debit Account Transaction reference a

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