Question One Heathrow Company opened for business on August 1. Its trial balance before adjustment on December 31 is as follows. Heathrow Company Trial Balance December 31, 2017 Credit Debit $ 19,600 3,300 6,000 25,000 26,000 Account name Cash Supplies Prepaid Insurance Land Equipment Accounts Payable Unearned Revenue Note Payable Owner's Capital Service Revenue Salaries and Wages Expense Utilities Expense $ 6,500 7,400 8,000 48,400 70,000 51,000 9,400 $140,300 $140,300 Instructions: Journalize the adjusting entries on December 31 based on the following data. (6 points) 1. Insurance purchased on 1/8/2018 for one year. 2. On December 31 supplies on hand is $800. 3. The company purchased equipment in 1/9/2017 and the monthly depreciation is $240 for equipment. 4. Unearned revenue of $4,800 was earned prior to December 31. 5. Salaries of $400 were unpaid or recorded at December 31. 6. The Note Payable (loan) interest rate is 9% per year. (The loan was taken out on August 1.)