Loning hdscaping has collected the following data for the December 31 adding entries (Click the icon to view the independent cases) Head the adm Requirement 1. Journalize the adusting entry needed on December 31 for each of the tems affecting Loning Landscaping Assume Loning records ang entries only at the end of the year (laced dits Set on cadh Select the explanation on the last ine of the joumal entry table) a. Each Friday, Loring pays employees for the cument week's work. The amount of the weekly payroll is $7,000 for a five-day workweek This year December 31 falls on a Thursday Loning will pay to employees on January 1 Accounts and Explanation Date Debit Cred Dec 21 b. On January 1 of the cument year. Loring purchases an insurance policy that covers two years $2.000 (When the policy was purchased on January 1, assume that Loming dotted an asset accoun Accounts and Explanation Date 71 Debit Credit Choose from any st or enter any number in the input felds and then continue to the next question a 0 DELL 10:50 ADE 01/01/200