Laferty Landscaping has collected the following data for the December 31 adjusting entries: (Click the icon to view the independent cases.) Read the requirements. Requirement 1. Journalize the adjusting entry needed on December 31 for each of the items affecting Laferty Landscaping. Assume Laferty records adjusting entries only at the end of the year. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Each Friday, Laferty pays employees for the current week's work. The amount of the weekly payroll is $7,600 for a five-day workweek. This year December 31 falls on a Thursday. Laferty will pay its employees on January 1 . More info a. Each Friday, Laferty pays employees for the current week's work. The amount of the weekly payroll is $7,600 for a five-day workweek. This year December 31 falls on a Thursday. Laferty will pay its employees on January 1. b. On January 1 of the current year, Laferty purchases an insurance policy that covers two years, $7,000. c. The beginning balance of Office Supplies was $4,300. During the year, Laferty purchased office supplies for $5,900, and at December 31 the office supplies on hand total $1,400. d. During December, Laferty designed a landscape plan and the client prepaid $6,000. Laferty recorded this amount as Unearned Revenue. The job will take several months to complete, and Laferty estimates that the company has earned 50% of the total revenue during the current year. e. At December 31, Laferty had earned $5,000 for landscape services completed for Antique Attic Appliances. Antique Attic has stated that it will pay Laferty on January 10. f. Depreciation for the current year includes Equipment, $3,700; and Trucks, $1,200. g. Laferty has incurred $300 of interest expense on a $400 interest payment due on January 15. Requirements 1. Journalize the adjusting entry needed on December 31 for each of the items affecting Laferty Landscaping. Assume Laferty records adjusting entries only at the end of the year