Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work.

Dec 1 prepaid a 24 month insurance policy(coverage starting immediately) for $2,400 cash.

Dec 7 purchased supplies for $2,000 cash.

Dec13 agreed to do $10,000 worth of work for Telo over the next 30 days. payment is to be received when the work is completed on Jan 12.

Dec 24 received $4,000 cash in advance to perform work for ABX over the next four weeks.

Dec. 31 Year-End

Jan 5 paid wages of $800 csh to workers.

Jan 12 received $10,000 cash from Telo for work performed over the last 30 days

Additional Information as of December 31

Telo Job Completion at Year-End: Telo 60% Telo Complete

ABX Job Completion at Year-End:Abx 23% Complete

Supplies Remaining at Year-End:$700

Wages Earned By Workers but not yet Paid at Year-End:$500

1. Record (a) the prepayment of insurance on December 1 and (b) the adjusting journal entry for prepaid insurance on December 31. 2. Record (a) the advance payment from ABx and (b) the adjusting journal entry to unearned revenue on December 31