ABC Company's monthly ledger includes the following accounts: Supplies, Supplies expense, Prepaid Insurance, Insurance Expense, Service Revenue, Unearned Service Revenue, Allowance for Doubtful Account, and Bad debts expense. The following transactions occurred during the fiscal year: Supplies: - On January 1, 2021, the company’s Supplies account reported a cost of $12,000. - 

On April 1, the business purchased additional supplies at a cost of $140,000 and recorded these in the account Supplies Expense. At the end of the year, a physical count indicated that the supplies on hand had a cost of $15,000. Insurance: - On January 1, 2021. The company’s Prepaid Insurance account had a debit balance of $12,340 for a policy that ends on 31 August. - On August 1, a company obtained its first insurance policy covering its property. The policy is for one year and it begins immediately on August 1. The insurance premium for this 12-month period is $2,400 and it was paid on August 1. Service Revenue: - On January 1, 2021, the company’s Unearned Service Revenue account had a credit balance of $128,000. Of this balance, $57,000 is for the services expiring at the end of March and $71,000 is for the services expiring at the end of November. - On April 1, 2021. The company received $33,000 for the service lasting 11 months. - On May 1, 2021. The company received $60,000 for the service lasting 3 months. - On December 1, 2021. The company received $24,000 for the service lasting 12 months. 

Allowance for bad debts: - On January 1, 2021, the company’s Allowance for Doubtful Account has a credit balance of $900 and its aging of Accounts Receivable indicated that $3,000 is not likely to be collected. 

Required: 

For each of the situations listed above 

1) Prepare the necessary adjusting entries at December 31, 2021. 

2) Open T-accounts and post the transactions directly to the account listed