On December 31, the following information is available. Use this information to record the Adjusting Journal Entries. Date these entries 12/31. 1. Adjustment of prepaid insurance. 2. Adjustment of prepaid rent. 3. Supplies used, $1,250. 4. Equipment depreciation, $500 per month. 5. Accrual of interest on note payable. (Use the interest formula P x R x T) I 6. Salaries for the second half of December, $11,000, to be paid on January 1. 7. December utilities expense, $800 is due January 10. 8. Income tax for December, $1,200, will be paid in January.