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Please explain how to Journalize the adjusting entries. An accountant made the following adjustments at December 31, the end of the accounting period: Prepaid insurance,

Please explain how to Journalize the adjusting entries.

An accountant made the following adjustments at December 31, the end of the accounting period:

  1. Prepaid insurance, beginning, $500. Payments for insurance during the period, $2,000. Prepaid insurance, ending, $400.
  2. Interest revenue accrued, $2,500.
  3. Unearned service revenue, beginning, $1,700. Unearned service revenue, ending, $300.
  4. Depreciation on building, $5,600.
  5. Employees' salaries owed for two days of a five-day work week; weekly payroll, $19,000.
  6. Income before income tax, $21,000. Income tax rate is 35%.

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