Mark Matthews Home Remodeling records adjusting entries once a year, on December 31. The information below was gathered to help record adjusting entries.

1. A $1,860 payment for one year of insurance was made on March 31, 2022, for coverage starting in April 1, 2022.2. Supplies at the beginning of the year was $0; $1,800 of supplies were purchased during the year. A count of supplies showed $700 on hand at December 31.3. Mark took out a $75,000 5-year 8% loan on August 1, 2022. The loan requires annual payments. No payments have been made on the loan during 2022.4. A customer paid $26,000 on October 31, 2022, for a project to be completed no later than the end of January 2023. At the end of the year, $16,900 was earned toward the project.5. Depreciation calculated was $6,700 for the year.6. The company has one employee. For his work during the last week of December, the employee will be paid $710 for wages on January 1st.

Required:

Record the necessary journal entries required for the year ended December 31, 2022, in good form and show calculations in place of explanations.

Mark Matthews Home Remodeling records adjusting entries once a year, on December 31 . The information below was gathered to help record adjusting entries. 1. A $1,860 payment for one year of insurance was made on March 31, 2022, for coverage starting in April 1, 2022. 2. Supplies at the beginning of the year was $0;$1,800 of supplies were purchased during the year. A count of supplies showed $700 on hand at December 31. 3. Mark took out a $75,0005-year 8% loan on August 1,2022 . The loan requires annual payments. No payments have been made on the loan during 2022. 4. A customer paid $26,000 on October 31,2022 , for a project to be completed no later than the end of January 2023 . At the end of the year, $16,900 was earned toward the project. 5. Depreciation calculated was $6,700 for the year. 6. The company has one employee. For his work during the last week of December, the employee will be paid $710 for wages on January 1st. Required: Record the necessary journal entries required for the year ended December 31, 2022, in good form and show calculations in place of explanations. NOTE: The template will not auto-format credited accounts. To indent accounts in the template, you must put 3 periods before the account title. For example, to indent Buildings, type ...Buildings