Please answer the questions from 1 to 4

1. (8 Points) one example of each. Define the terms accrual and deferral in reference to adjusting journal entries. Give 2. (12 Points) Your examination of Engel Company's records provides the following information for the December 31, 2013, year-end adjustments. Required: Prepare the adjusting entries to record each transaction a. Bad debts are to be recorded at 2% of sales. Sales made on credit totaled $25,000 for the year. b. Salaries at year-end that have accumulated but have not been paid total $1,400. c. Annual straight-line depreciation for the company's equipment is based on a cost of $30,000, an estimated life of 8 years, and an estimated residual value of $2,000. d. Prepaid insurance in the amount of $800 has expired