My Company had the following transactions during its first month of operations:

Dec $2$ Purchased $$11,000$ of furniture on account for the office.

Dec $3$ Purchased $$1,400$ of supplies on account.

Dec $5$ Purchased a one year insurance policy for $$2,100.$

On December $31,$ the following adjustments must be made:

The furniture, which has no salvage value and a $60-$month $($or $5$ year$)$ useful life, needs to be depreciated for ONE MONTH using straight$-$line depreciation $($Hint: Cost $-$ Salvage $/$ useful life in months$).$

A physical count shows only $$1,000$ of supplies remains in the storage closet.

One month of the $1-$year insurance policy has been used.

Prepare adjusting entries required.