Part 1- Adjusting Journal Entries- This problem is worth 15 points. You MUST use an Excel spreadsheet for your answers. Please make sure your name is on the top line (Column A-Row 1) of your spreadsheet. The following information was taken from the books of Ames Corp, for the year ended December 31, 201X. Ames Corp. adjusts their books ANNUALY, and closes them at the end of the year. 1) Insurance premiums in the amount of $7,200 were paid on November 1st, for a one year insurance policy effective November 1st. The original entry was recorded as insurance Expense. 2) A deposit on a customer's contract in the amount of $4,000 was received on December 15th. It was recorded as Unearned Contract revenue. As of December 31", $1,500 of the contract was earned. 3) A note payable in the amount of $100,000 was obtained on November 1st. The note, plus interest of 6 %, is due on May 1s next year