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 shown as an example. (Do not round intermediate calculations. Enter any decreases to account balances with a minus sign.) a. Paid $4,800 cash in advance on October 1 for a one-year insurance policy. b. Received a $3,600 cash advance for a contract to provide services in the future. The contract required a one-year commitment, starting April 1. c. Purchased $1,200 of supplies on account. At year's end, $175 of supplies remained on hand. d. Paid $9,600 cash in advance on August 1 for a one-year lease on office space. The Accounting Equation Total Assets Stockholders' Equity Event/ Adjustment Cash Other Assets Liabilities Comman Retained Stock Earnings a a. Adj. b. (4,800)+ 4,800 + (1,200)= + (1,200) + b. Adj. PPP c. Adj. d. d. Adj.