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. Not all cells require input.) 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 Event Adjustment Stockholders' Equity Cask+ Other Assets Liabilities Common Stock Retained Earnings (4,800) 4,800 . a Ad (1.200) (1,200) b b. Adj c Adj d d. Ad