Preparing and Journalizing Adjusting Entries For each of the following separate situations, prepare the necessary adjustments (a) using the financial statement effects template and (b) in journal entry form. 1. Unrecorded depreciation on equipment is $2,440. 2. The Supplies account has an unadjusted balance of $11,960. Supplies still available at the end of the period total $4,400. 3. On the date for preparing financial statements, an estimated utilities expense of $1,560 has been incurred, but no utility bill has yet been received or paid. 4. On the first day of the current period, rent for four periods was paid and recorded as a $11,200 debit to Prepaid Rent and a $11,200 credit to Cash. 5. Nine months ago, Hartford Insurance Company sold a one-year policy to a customer and recorded the receipt of the premium by debiting Cash for $2,496 and crediting Unearned Premium Revenue for $2,496. No adjusting entries have been prepared during the nine-month period. Hartford's annual financial statements are now being prepared. 6. At the end of the period, employee wages of $3,860 have been incurred but not yet paid or recorded. 7. At the end of the period, $1,200 of interest income has been earned but not yet received or recorded.