Prepare it's adjusting entries using the financial statement effects template. Please see attached for question and template to reference for answer input. I have put a rectangle around the question (see attached). Any feedback would be much appreciated thank you! Please find the template referenced within the question below (it's titled). The other attachments is other info that may be needed to solve the question.

Unadjusted Trial Balance Financial Statement Effects Template Journal Entries T-Accounts SnapShot Company Unadjusted Trial Balance December 31, 2018 Debit Credit Cash +A 2150 v $ OV Accounts Receivable 3800 Prepaid Rent 12600 V OV Prepaid Insurance 2970 V OV Supplies 4250 v OV Equipment 22800 OV Accounts Payable OV 1910 Performance Obligations OV 2600 Common Stock OV 24000 Photography Fees Revenue OV 34480 Wages Expense 11000 OV Utilities Expense 3420 v OV Totals $ 62990 v $ 62990 CheckUnadjusted Trial Balance Financial Statement Effects Template Journal Entries T-Accounts Note: Use negative signs with your answers, when appropriate. Balance Sheet Income Statement Noncash Contributed Earned Transaction Cash Asset + Assets Contra Assets = Liabilities + Capital + Capital Revenue Expenses = Net Income (1) Fees earned but not received. $ OV+ $ 925 v - $ OV = $ Ov+ $ Ov+ $ 925 ~ $ 925 V - $ OV = $ 925 (2) Recognize depreciation expense for one year. OV + O V - Ox = OV + Ov + O X OV . OX= OX (3) Recognize utilities expense. Ov + OV OV= 400 + Ov + -400 O V - 400 V = -400 (4) Recognize rent expense for one year. OV + 0 x - Ov= OV + OV + 0 x O V - OX= O X (5) Recognize photo revenues. OV + O V - Ov= * + OV + O X 0 x - OV= O X (6) Recognize insurance expense. OV + O X - OV= OV+ OV + O X O V - O X= O X (7) Recognize supplies expense. OV + 0 x - OV= OV + OV O X O V - 1520 x = O X (8) Recognize wages expense. Ov+ OV OVE 375 v + Ov + 375 v OV - 375 V = 375 V Totals + 0 x - 0 x = Ox+ ov+ 0 x 0 x - 0 X= O XUnadjusted Trial Balance Financial Statement Effects Template Journal Entries T-Ac General Journal ate 2018 Description Debit Credit ec 31 (1) Fees Receivable 925 v OV Photography Fees Revenue v Ov 925 v To record revenue earned but not billed 31 (2) Depreciation Expense 2280 v O V Accumulated Depreciation V OV 2280 To record depreciation for the year. 31 (3) Utilities Expense 400 O V Utilities Payable V 400 V To record estimated December utilities expense. 31 (4) Rent Expense 6300 v I V Prepaid Rent O V 6300 v To record rent expense for the year. 31 (5) Performance Obligations 2600 0 Photography Fees Revenue V Ov 2600 To record advanced payments earned during the year. 31 (6) Insurance Expense 990 O V Prepaid Insurance V OV 990 To record insurance expense for the year. 31 (7) Supplies Expense v 2730 v Supplies V OV 2730 V To record supplies expense for the year. 31 (8) Wages Expense 375 v O V Wages Payable Ov 375 v To record unpaid wages at December 31.Preparing an Unadjusted Trial Balance and Adjustments SnapShot Company, a commercial photography studio, has just completed its first full year of operations on December 31, 2018. General ledger account balances before year-end adjustments follow; no adjusting entries have been made to the accounts at any time during the year. Assume that all balances are normal. Cash $2,150 Accounts Payable $1,910 Accounts Receivable 3,800 Unearned Photography Fees 2,600 Prepaid Rent 12,600 Common Stock 24,000 Prepaid Insurance 2,970 Photography Fees Earned 34,480 Supplies 4,250 Wages Expense 11,000 Equipment 22,800 Utilities Expense 3,420 An analysis of the firm's records discloses the following. 1. Photography services of $925 have been rendered, but customers have not yet paid or been billed. The firm uses the account Fees Receivable to reflect amounts due but not yet billed. 2. Equipment, purchased January 1, 2018, has an estimated life of 10 years. 3. Utilities expense for December is estimated to be $400, but the bill will not arrive or be paid until January of next year. 4. The balance in Prepaid Rent represents the amount paid on January 1, 2018, for a 2-year lease on the studio. 5. In November, customers paid $2,600 cash in advance for photos to be taken for the holiday season. When received, these fees were credited to Performance Obligations. By December 31, all of these fees are earned. 6. A 3-year insurance premium paid on January 1, 2018, was debited to Prepaid Insurance. 7. Supplies available at December 31 are $1,520. 8. At December 31, wages expense of $375 has been incurred but not paid or recorded. (a) Prove that debits equal credits for Snapshot's unadjusted account balances by preparing its unadjusted trial balance at December 31, 2018. (b) Prepare its adjusting entries using the financial statement effects template. (c) Prepare its adjusting entries in journal entry form. (d) Set up T-accounts, enter the balances above, and post the adjusting entries to them