Sunkan Company prepares monthly financial statements. Below are listed some selected accounts and their balances on the September 30 trial balance before any adjustments have been made for the month of September. SUNKAN COMPANY Trial Balance (Selected Accounts) September 30, 2014 Debit Credit Supplies $2,700 Prepaid Insurance 4,800 Equipment 16,200 Accumulated Depreciation Equipment 1,000 Unearned Rent Revenue 1,200 (Note: Debit column does not equal credit column because this is a partial listing of selected account balances.) An analysis of the account balances by the company's accountant provided the following additional information: 1. A physical count of office supplies revealed $1,000 on hand on September 30. 2. A two-year life insurance policy was purchased on June 1 for $4,800. 3. Office equipment depreciates $3,000 per year. 4. The amount of rent received in advance that remains unearned at September 30 is $300. Instructions: Using the information given, prepare the adjusting entries that should be made by Sunkan Company on September 30. IUI LdSil. (d) Paid an account payable in full. og ople 5. Why is an account referred to as a T-account? 6. The terms debit and credit mean "increase" and "de