Prepare journal entries to record the following adjustments.

a$.$ Insurance that expired this period, $$18,000.$

b$.$ Depreciation on equipment, $$4,800.$

c$.$ Salaries earned by employees but unpaid, $$1,200.$

Accrued salaries owed to employees for October $30$ and $31$ are not considered in preparing the financial statements for the year ended October $31.$ Indicate which items will be erroneously stated, because of the error, on

a$.$ the income statement for the year and

b$.$ the balance sheet as of October $31.$

c$.$ Indicate whether the items in error will be overstated or understated.

The balance in the Unearned Revenue account, before adjustment at the end of the year, is $$28,000.$ Journalize the adjusting entry required if the amount of unearned fees at the end of the year is $$5,600.$