| Prepare the value & necessary adjusting enties, if any, for X Y Z Coporation on December 31, 2021. Omit explanations. a) On June 1, 2021, XYZ paid an insurance company 824,000 for 2-year fire insurance policy. XYZ to recorded the msurance payment to prepaid insurance. No further entries have been made Record the and adjusting entry, if any, for 12/31/21 b) Office equipment, purchased in 2018 for $120,000, has no salvage an estimated useful life of 10 years. The unadjusted trial balance has the following balances office equipment: $120,000, accumulated depreciation -office equipment: 45,000 and depreciation expenle : $9,000, c) On Nou, 1 , 2021, the company . paid $10,000 rent for the 5 months commencing Nov. 1, 2021 to the owner of the building XYZ recorded the payment to vent expense. d) A customer paid XYZ 45,000 in December for products to be delivered in January 2022. e) There are ten employees, Salaries & wages are paid every Friday to work performed through Friday. Four employees receive $1900 per week, & six employees earn $11, 200 each per week. December 31 is a Fen Tuesday, Employees world 5 day work week, Employees do not work weekends a