Prepare the following adjusting entries necessary to prepare the year-end Financial Statements: a. The Prepaid Insurance account has a balance of $8,640 on 12/31 per the trial balance. The insurance contract was signed on August 1st of the current year and represents a 3-year insurance policy. No adjustment has been made to date. b. The Supplies account has a balance of $1,320 on 12/31 per the trial balance. A year-end count of supplies shows that $480 of supplies remain unused. c. Depreciation for equipment for the current year totals $2,200. d. The year end (12/31) occurred in the middle of a pay period. Employees will not be paid until January 6th. As of 12/31, employees are owed $3,750 of accrued salaries.