nmentSession Locator=&inprogress=false Adjustment Process Terry Mason organized The Fifth Season at the beginning of February 2014. During February, The Fifth Season entered into the following transactions: a. Terry Mason invested $28,500 in The Fifth Season in exchange for common stock. b. Paid $6,510 on February 1 for an insurance premium on a 1-year policy. c. Purchased supplies on account, $1,560, d. Received fees of $46,665 during February e. Paid expenses as follows: wages, $18,600; rent, $3,100; utilities, $1,550; and miscellaneous, $1,705. f. Paid dividends of $8,310. The transactions above have already been recorded in the integrated financial statement framework below. Record the adjusting entries at the end of February to record the insurance expense and supplies expense. There was $1,326 of supplies on hand as of February 28. Identify the adjusting entry for insurance as (a1) and supplies as (az). Use the integrated financial statement framework below. After each transaction, enter a balance for each item. If an amount box does not require an entry, leave it blank. If required, round your answer to the nearest dollar. Enter account decreases as negative amounts. Balance Sheet Assets Liab Statement of Cash Flows Cash + Supplies Prepaid Insurance Account 28.500 a. Investment -5.510 6.510 b. Pald Insurance Previous Next Check My Work Save and Exe Submit Assignment for Grading All work saved 11:21 PI 9/21/20 nmentSession Locator=&inprogress=false Adjustment Process Terry Mason organized The Fifth Season at the beginning of February 2014. During February, The Fifth Season entered into the following transactions: a. Terry Mason invested $28,500 in The Fifth Season in exchange for common stock. b. Paid $6,510 on February 1 for an insurance premium on a 1-year policy. c. Purchased supplies on account, $1,560, d. Received fees of $46,665 during February e. Paid expenses as follows: wages, $18,600; rent, $3,100; utilities, $1,550; and miscellaneous, $1,705. f. Paid dividends of $8,310. The transactions above have already been recorded in the integrated financial statement framework below. Record the adjusting entries at the end of February to record the insurance expense and supplies expense. There was $1,326 of supplies on hand as of February 28. Identify the adjusting entry for insurance as (a1) and supplies as (az). Use the integrated financial statement framework below. After each transaction, enter a balance for each item. If an amount box does not require an entry, leave it blank. If required, round your answer to the nearest dollar. Enter account decreases as negative amounts. Balance Sheet Assets Liab Statement of Cash Flows Cash + Supplies Prepaid Insurance Account 28.500 a. Investment -5.510 6.510 b. Pald Insurance Previous Next Check My Work Save and Exe Submit Assignment for Grading All work saved 11:21 PI 9/21/20