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thanks Required Journalise the adjusting entry needed on 31 December 2019 for each of the following independent cases affecting Metz Marketing Concepts. a. Each Friday,

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Required Journalise the adjusting entry needed on 31 December 2019 for each of the following independent cases affecting Metz Marketing Concepts. a. Each Friday, Metz pays employees for a five-day workweek every week. The business has four part-time employees who each earn $30 a day. The current accounting period that is 31 December 2019 ends on Thursday that have not yet been paid. b. Details of Prepaid Insurance are shown in the account: ACCOUNT: Prepaid Insurance Date Explanation Account No. 1-110 Credit Balance Post Debit Ref 3 000 2018 October December 2019 March 1 Cash at Bank 31 Prepaid Expense 3000 ???? ???? 15 Cash at Bank 5 850 ???? Metz purchased a 1-year insurance policy on 1 October 2018 and a 4-year policy on 15 March 2019. Record insurance expense for the year ended 31 December 2019. C. Electricity for December of $2,500 is unpaid and unrecorded. d. The beginning balance of Supplies was $3,800. During the year, Metz purchased supplies costing $5,500, and at 31 December 2019, the supplies on hand total $2,900. e. Metz designed a marketing campaign, and the client paid Metz $36,000 at the start of the project. Metz recorded this amount as Unearned Service Revenue. The campaign will run for several months. Metz estimates that the company has earned three-fourths of the total fee during the current year. f. The annual depreciation on Office Furniture is $5,500. The 31 December 2019 balance in the Accumulated Depreciation account was $38 750. g. Rent of $1 974 for the 6-month period ending 28 February 2020 is due to be paid in August 2020

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