Prepare adjusting journal entries for the following. (Credit account titles are automatica the account titles and enter O for the amounts.) 1. Bad debt expense is estimated to be $1,471. 2. Equipment is depreciated based on a 7-year life (no salvage value). 3. Insurance expired during the year $2,557. 4. Interest acrued on notes payable $3,492. 5. Sales salaries and wages earned but not paid $2,232. 6. Advertising paid in advance $722 7. Office supplies on hand $1,510, charged to Supplies Expense when purchased. No. Account Titles and Explanation Debit Credit 1. 2