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 $6,000 cash in advance on April 1 for a one-year insurance policy b. Purchased $2,400 of supplies on account. At years end, $200 of supplies remained on hand c. Paid $7,200 cash in advance on March 1 for a one-year lease on office space. d. Received an $18,000 cash advance for a contract to provide services in the future. The contract required a one-year commitment starting September 1 The Accounting Equation Total Assets Stockholders' Equity Event/ dju Liabilities Common+ OtherLiabilities+ Assets stment Cash Retained a. (6,000)+ 6.0001 = a. Ad (4.5001 = (4,500) b. Ad G. c. Adj d. d. Ad