Please prepare the adjusting entries for the year-end Dec31, 2020. 3 Assume all the original entries had been recorded in the system.

1 On Jan1, business bought one equipment for $49,000. The estimated useful life is 5 years with the residue value $1,000.

2 On Dec31, 2020, Business checked unexpired the insurance policy remaining 23,600. And business has $25,000 debit balance on prepaid insurance account at Dec31, 2020 before any year-end adjusting entries

3 On Jan1, The business has paid three and half vear rent $70,000. Now the first year has passed. Please record the adjusting entry on Dec31, 2020

4 On Jan1, 2020 the business had $1,150 debit balance. And the additional office supplies $3,370 were purchased during the year. Now on Dec31, 2020, there were only $280 of supplies left over there on hand

5 Three-fourth of the work for $150,000 service fees received in advance has been performed 27 3 out of 4 75%

6 Apr1, 2020 the business bought an auto for $62,000, its estimated useful life is 4 years with residue value $6,000 at the end of its useful life

7 Dec31, 2020 the business found unrecorded and unpaid salary and wages for $8,200. The owing amount will be paid in next week.