McKinsey & Co$.$ is a consulting firm. The company's fiscal year end is October ${31}^{st},2019.$ McKinsey's accountant is

recording year end adjusting entries and has gathered the following information for the adjustments:

As of October ${31}^{st}$ McKinsey had projects in progress for which it had $70$ unbilled hours of consulting time. The firm's

normal billing rate is $$250/$hour$.$ McKinsey will complete these projects during November and December and will be

paid upon completion.

The balance in Supplies was $$9,400$ as of November $1^{st},2018.$ Purchases of supplies during the year were $$17,600$ and

an audit showed supplies on hand of $$5,800$ as of October ${31}^{st},2019.$

McKinsey paid $$6,600$ for a one year business insurance policy on May $1^{st},2019.$

McKinsey pays its employees every Friday for a five day, Monday$-$Friday, work week. The last pay date was Friday,

October ${25}^{th}.$ The company's weekly payroll is $$65,000.$ October ${31}^{st}$ this year falls on a Thursday.

McKinsey's ledger includes the following accounts: Accounts Receivable, Prepaid Insurance, Supplies, Salaries Payable,

Consulting Revenue, Salaries Expense, Supplies Expense, Insurance Expense.

Instructions: Journalize the necessary adjusting entries as of October ${31}^{st}$ in the space below. Assume no adjustments were

made prior to October ${31}^{st.}.$ Use correct account names and make sure the entries are in the proper form.

Edit View Insert Format Tools Table

McKinsey & Co$.$ as of October $31$st$,2019$

Dr$.$ Accounts Receivable $$17,500$

Cr$.$ Consulting Revenue $$17,500$

Dr$.$ Supplies Expense $$21,200$

Cr$.$ Supplies $$21,200$

Dr$.$ Insurance Expense $$3,300$

Cr$.$ Prepaid Insurance $$3,300$

Dr$.$ Salaries Expense $$52,000$

$.$ Salaries Payable $$52,000$

is my format correct $?$