Prepare adjusting journal entries, as needed, for the following items (a) The Supplies account shows a beginning balance of $500. The company purchases an additional $3,500 of office supplies for cash but a count of supplies reveals only $700 on hand at year-end (b) The company purchases 12 months of insurance on July 1st for $24,000 by debiting prepaid insurance it is now December 31st and 6 months of insurance has been used Record the necessary adjusting entry as of December 31st. (c) A company, borrows $20,000 with 8% interest on October 1st, 2010. This amount plus interests due on-March 31st, 2011. Record the adjusting entry on December 31, 2010. (d) At year end, the company received a utility bill for December's electricity usage of 200 that will be paid in early January (e) A company purchases new equipment for $24 000 cash on January 1st 2010. The equipment is expected to have a $6,000 salvage at the end of it's 4 year useful life. Record the adjusting entry for depreciation using straight-line as of December 31st, 2010