Loring 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 terms attecting Lorring Landscaping Assume ning records in the only at the end of the year card debts first, then credits Select the explanation on the lastne of the journal entry tale) a. Each Friday Loring pays employees for the current week's work. The amount of the weekly payroll is 59.000 for five day workweek This year December 31 fot on a Monday. Loring will pay is amployees on January 4 Date Accounts and Explanation Debat Credit Dec 31 dont cases) he end ng entry needed on of the journal entry tal s for the current weer nday L nts and Explanation a. Each Friday, Lorring pays employees for the current week's work. The amount of the weekly payroll is $9,000 for a five-day workweek. This year December 31 falls on a Monday Lorring will pay its employees on January 4 b. On January 1 of the current year, Lorring purchases an insurance policy that covers two years, $8,000 c. The beginning balance of Office Supplies was $4 300 During the year Lorring purchased office supplies for $5,200, and at December 31 the office supplies on hand total $1 100 d. During December. Lorring designed a landscape plan and the client prepaid $8.000. Lorring recorded this amount as Unearned Revenue. The job will take several months to complete and Lorring estimates that the company has earned 40% of the total revenue during the current year. e. At December 31. Lorring had earned $5,000 for landscape services completed for Make Me Move Appliances Make Me Move has stated that it will pay Lorring on January 10. f. Depreciation for the current year includes Equipment $3.000 and Trucks $1200. g. Lorring has incurred $100 of interest expense on a $450 interest payment due on January 15