On July 1, 2021, Crane Company buys a three-year insurance policy for $12,492. Crane Company has a December 31 year end. Journalize the purchase of the insurance policy. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Date Account Titles and Explanation Debit Credit July 1 Debt Investments e Textbook and Media List of Accounts Prepare the year-end adjusting entry for the amount of insurance expired. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to the nearest whole dollar, e.g. 5,275.) Date Account Titles and Explanation Debit Credit Dec. 31 Grant's Graphics has a December 31 year end. Grant's Graphics records adjusting entries on an annual basis. Prepare the adjusting journal entries based on the following information. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 1. 2. 3. 4. At the end of the year, the unadjusted balance in the Prepaid Insurance account was $3,410. Based on an analysis of the insurance policies, $2,590 had expired by year end. At the end of the year, the unadjusted balance in the Unearned Revenue account was $1,830. During the last week of December, $520 of the related services were performed. On July 1, 2021, Grant signed a note payable for $11,500. The loan agreement stated that interest was 4%. Depreciation for the computer and printing equipment was $2,000 for the year. At the beginning of the year, Grant's had $1,060 of supplies on hand. During the year, $1,310 of supplies were purchased. A count at the end of the year indicated that $690 of supplies was left on December 31. Between December 28 and December 31 inclusive, three employees worked eight-hour shifts at $17.25 per hour. The employees will be paid for this time worked on January 10. On December 31, it was determined that $4,600 of services had been provided but the bookkeeper did not record it. 5. 6. 7. No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. 6. 7