Prepare adjusting entries in the general journal from the following information pertaining to the accounts of Eastpointe Inn as of December 31, 20X6(the end of its fiscal year):

1. The prepaid insurance account shows a balance of $15,000 representing the March 31, 20X6, premium payment for one-year fire insurance coverage from April 1, 20X6, through March 31, 20X7.

2. Equipment costing $80,000 is being depreciated using the straight-line method and an estimated useful life of five years. (Assume salvage value is $10,000) Annual depreciationhas not been recorded.

3. Wages earned by employees for December 26-31, 20X6, have not been recorded. Weekly wages (for seven years) amount to $2,100

4. Interest expense on a note payable of $50,000 has not been recorded during 20X6. The amount was borrowed on November 1, 20X5. The annual rate of Interest is 8%.

5. The Guest Deposit account (a current liability account) has a balance of $2,000 before adjustments. Of these deposits, $800 were earned during December 20X6.