of 2 Required information Use the following information for Exercises 6-7 below. (Algo) [The following information applies to the questions displayed below.] ok Wages of $10,000 are earned by workers but not paid as of December 31. b. Depreciation on the company's equipment for the year is $11,200. c. The Supplies account had a $440 debit balance at the beginning of the year. During the year, $5,120 of supplies are purchased. A physical count of supplies at December 31 shows $562 of supplies available. d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An analysis of insurance policies shows that $2,700 of unexpired insurance benefits remain at December 31. e. The company has earned (but not recorded) $650 of interest revenue for the year ended December 31. The interest payment will be received 10 days after the year-end on January 10. f. The company has a bank loan and has incurred (but not recorded) interest expense of $3,000 for the year ended December 31. The company will pay the interest five days after the year-end on January 5. nit ences Exercise 3-7 (Algo) Analyzing adjusting entries using accounting equation LO P1, P3, P4 For each of the above separate cases, analyze each adjusting entry by showing its effects on the accounting equation-specifically, identify the accounts and amounts (including (+) increase or (-) decrease) for each transaction or event. Equity Assets (+) increase Liabilities (-) decrease Accumulated depreciation a. Wages expense 10,000 = Equipment + Depreciation expense- Equipment b. C. d + e. +