Prepare the adjusted journal entries

At the end of December (the fiscal year end), Cassel Accounting had the following adjustments. (NOTE: Depreciation expense is only recorded at year-end; all other adjustments are recorded monthly.) a. The insurance policy was renewed on 11/1/20 for 6 months at a cost of $3,900. $6,400 of the amounts received in advance from clients are still unearned. b. Received a utility bill for December for $680. | Interest has accrued on both of the notes. The $30,000 note was taken out on 7/1/20 and is for 9 months at 6% interest. | Of the $8,200 received from the client on 12/20, $3,200 is still unearned as of 12/31. | Advertising services performed on 12/27 have not yet been billed. The client owes $5,900. $2,350 of supplies were still on hand at 12/31. The equipment is being depreciated over 10 years using the straight-line method with no salvage value. The equipment on the books at 11/30 was purchased on 1/1/19. c | - | Record the salary of $16,000 owed to Mrs. DeWitt for December. She receives her check on the first day of the following month. Her FICA tax rate is also 7.65% and she has 15% for Federal income tax and 8% for State income tax deducted from her check. Record the December wages earned and taxes owed by Sallie since the last pay period. (NOTE: round to whole dollars if necessary.). Record the employer's share of FICA tax on all salaries/wages payable. Fort Unadjusted Trial Balance DR ACCOUNT CR CASH 163,461 ACCOUNTS RECEIVABLE 38,600 6,600 SUPPLIES PREPAID INSURANCE 3,250 EQUIPMENT 117,000 ACCUMULATED DEPRECIATION-EQUIPMENT 4,500 ACCOUNTS PAYABLE 6,600 19,900 UNEARNED SERVICE REVENUE NOTE PAYABLE 90,000 INTEREST PAYABLE 750 SALARIES AND WAGES PAYABLE FICA TAX PAYABLE 1,532 FEDERAL INCOME TAX PAYABLE 800 STATE INCOME TAX PAYABLE 400 UTILITIES PAYABLE COMMON STOCK 64,000 66,000 ADDITIONAL PAID-IN CAPITAL-COMMON RETAINED EARNINGS 3,919 SERVICE REVENUE 333,450 DIVIDENDS 4,000 INTEREST EXPENSE 750 3,760 650 SUPPLIES EXPENSE INSURANCE EXPENSE UTILITIES EXPENSE SALARIES AND WAGES EXPENSE 7,950 186,000 RENT EXPENSE PAYROLL TAX EXPENSE UNADJUSTED TOTALS 45,600 14,230 591,851 591,851