Required:

 Prepare the adjusting journal entries required at December 31.

The following is Blossom Limo Service Ltd's unadjusted trial balance at its year end, December 31, 2024. The company adjusts its accounts annually. Cash Accounts receivable Supplies Prepaid insurance Prepaid rent Vehicles Accumulated depreciation-vehicles Furniture: Accumulated depreciation-furniture Deferred revenue Bank loan payable, due September 1, 2027 Common shares Debit $4,830 8,630 2,630 3,780 2,420 60,900 16,800 Credit $15,225 4,200 3,780 28,800 5,250