Preparing and Journalizing Adjusting Entries For each of the following separate situations, prepare the necessary adjustments using the financial statement effects template. 1. Unrecorded depreciation on equipment is $458. 2. On the date for preparing financial statements, an estimated utilities expense of $293 has been incurred, but no utility bill has yet been received and recorded or paid. 3. On the first day of the current period, fees for professional journal subscriptions for four periodicals were paid and recorded as a $2,100 debit to Prepaid Subscriptions and a $2,100 credit to Cash. One periodical has been received. 4. Nine months ago, the Hartford Financial Services Group sold a one-year policy to a customer and recorded the receipt of the premium by debiting Cash for $468 and crediting Contract Liabilities for $468. No adjusting entries have been prepared during the nine-month period. Hartford's annual financial statements are now being prepared. 5. At the end of the period, employee wages of $724 have been incurred but not yet paid or recorded. 6. At the end of the period, $225 of interest income has been earned but not yet received or recorded. Account Debit Credit Accounts receivable Accumulated depreciation Cash Contract liabilities Depreciation expense Interest expense Interest income Interest payable Interest receivable Premium revenue Prepaid subscriptions Subscription expense Utilities expense Utilities payable Wages expense Wages payable 6. To record adjustment for interest