Preparation of Adjusting Entries Bartow Photographic Services taikes wedding and graduation photographs. As December 31 , the end of Bartow's accounting period, the following information is avaluble: a. Ail wedding photographs are paid for in advance, and afi cash coliectied for them is credited to Unearned Service Revenue. Except for a yeariend adjusting entry, no other entries are made for service revenue from wedding photographs. During the veac, Bartow recelved $42,500 for wedding photographs, At year and, 537,390 of sevices had been pertormed. The beginning-of-the-year balance of Unearned Service Revenue was zero. b. During December, Bartow photographed 22.9 members of the neat year's graduating class of Shaw Migh Schoch. The schook has askes Bartow to print one copy of a photograph of each student for the school files. Bartow delivers these photographs on December 28 and will bil the school $5.00 per student in Jarnary of next year Revenue from photographs codered by students will be recorded as the orders are received during the eariy months of next year c. Equipment used for developing and printing was rented for $22,500. The fental term was for 1 year beginning on August 1 and the entire year of rent was paid on August 1. The payment was debited to Prepaid Rent. d. Depreciation on the firm's building for the current year is $9,390. e. Wages of $4,161 are owed but unpald and unrecorded at December 31 . t. Supplies at the beginning of the year were $2,400. During the veat, supplies costing $19,600 were purchased from Kodak. When the purchases were made, their cost was debited to Supplies. At year end, a physical inventory ind cated that supplies costing 54,100 were on hand. Required: 1. Prepare the adjuting entries for each of these tiems. If an amoumt bax does not require an entry, leave if blank: 2. Conceptual connectiont dy how much would net income be overstatis or understated if the accountant failed to mai the adjusting entries? by s