Question 1 Bee Clean Corp. has a year-end of December 31. Using the information and the template for journal entries below, prepare the adjusting journal entries required at December 31, 2020 for the following transactions. No explanations are required. 1) On January 1, 2020, the company purchased and recorded a 5 year insurance policy for $10,000 in the Prepaid Insurance Account. 2) The company prepaid and recorded $9,000 for 3 months rent on November 1, 2020 in the Prepaid Rent Account. 3) The company purchased supplies at the beginning of the year for $12,250 and recorded the purchase in the Supplies Inventory Account. Only $6,500 worth of supplies remained on hand at December 31, 2020. 4) The company owes $900 in interest expense for a loan taken earlier in the year; the company has not yet recorded or paid the interest. 5) Services performed but unbilled and uncollected from customers at year-end is $6,500. 6) Salary expense is $7,500 per week, for work performed Monday through Friday. The business pays employees each Friday. December 31, 2020 fell on a Thursday. 7) The company received $4,500 from a customer in advance which was posted to the Service Revenues account. By the end of December, 60% of services were completed for the customer. 8) Equipment was purchased at the beginning of the year at a cost of $35,000. The equipment's useful life is seven years. 9) The company had advertisement costs of $1,300 during December which the company has not recorded. The company also has not received an invoice from the vendor. DATE ACCOUNT DEBIT CREDIT D) Focus DATE ACCOUNT DEBIT CREDIT