NAME: PART II -TAKE HOME (22 points) -DUE AT 5pm Today (October 15, 2020). You can do work on these problems on this form in Word or separate sheets. Email me. Name file by your last name. IE Last Name.doc or Last Name.pdf. Problem 5 (12 points) Standard Business Equipment is completing the accounting process for the year just ended, December 31, 2015. The transactions during 2015 have been journalized and posted. The following data with respect to the adjusting entries are available: REQUIRED: Prepare the necessary 12/31/15 adjusting entries for the items below pertaining to standard Business Equipment, INC. SHOW ALL COMPUTATIONS. b. On March 1, 2015, a two-year insurance premium amounting to $2,400 was paid in cash and debited in full to Prepaid Insurance. Coverage begins on March 1, 2015 On September 1, 2015, Standard received $18,000 in cash from a customer who was renting 15 copiers from Standard for one year, starting on September 1, 2015. Standard credited Unearned Rent Revenue for the entire amount. Office supplies inventory at January 1, 2015 was $600. Office supplies purchased and debited to Supplies during the year amounted to $900. The year end inventory showed $150 of supplies on hand. Standard purchased delivery equipment on January 1, 2015 that cost $25,000. The equipment has an estimated useful life of four years and a salvage value of $5,000. d