Required

Each of the following independent events requires a year-end adjusting entry. Show how each event and its related adjusting entry affect the accounting equation. Assume a December 31 closing date. The first event is recorded as an example. (Do not round intermediate calculations. Enter any decreases to account balances with a minus sign.)

a.	Paid $7,300 cash in advance on April 1 for a one-year insurance policy.
b.	Purchased $2,250 of supplies on account. At years end, $230 of supplies remained on hand.
c.	Paid $5,700 cash in advance on March 1 for a one-year lease on office space.
d.	Received an $14,850 cash advance for a contract to provide services in the future. The contract required a one-year commitment starting September 1.

The Accounting Equation
Event/ Adjustment	Total Assets			=	Liabilities	+	Stockholders Equity
	Cash	+	Other Assets				Common Stock	+	Retained Earnings
a.	(7,300)	+	7,300	=		+		+
a. Adj.		+	(5,475)	=		+		+	(5,475)
b.		+		=		+		+
b. Adj.		+		=		+		+
c.		+		=		+		+
c. Adj.		+		=		+		+
d.		+		=		+		+
d. Adj.		+		=		+		+