The BOWLAND & SULLIVAN (BS) Company is in the process of preparing their financial statements for the MONTH ended December 31, 2015. The Company has provided you with the following selected account balances from its UNADJUSTED trial balance: DEBIT CREDIT Cash S40,000 Accounts Receivable 28,000 Machinery 300,000 Accumulated Depreciation S15,000 Prepaid Insurance 24,000 Supplies expense 4,000 Service Revenue 60,000 Accounts payable 40,000 Miscellaneous expenses 5,000 ADDITIONAL DATA: (a) (b) (c) (d) At the end of the month it was determined that $3,000 of supplies were still on hand. The employees have earned money for work done during December, but for which they will not be paid until January of 2016. The amount was $5,000. The Company paid their fire insurance on December 1, 2015 for 12 months in advance. The machinery is expected to have a useful life of 9 years with an estimated scrap value of $30,000 Customers paid the Company S60,000 in advance on December / for services to be performed equally over 4 months- December 2015 January (2016), February (2016) and March (2016). Show the adjusting entry in (e) above if the $60,000 were initially recorded in Unearned Service Revenue instead of Service Revenue. ( (1) Show the adjusting entry for insurance in part (c) if the $24,000 were initially recorded in "Insurance expense" instead of Prepaid Insurance REQUIRED: ON THE NEXT PAGE PREPARE THE PROPER ADJUSTING JOURNAL ENTRIES REQUIRED AT 12-31-15. SHOW ALL COMPUTATIONS CLEARLY!!! USE THE FORMAT PROVIDED. The company adjusts its books MONTHLY!!!. 2 a. DR: CR: b. DR: CR c. DR: CR: d. DR: CR: e. DR: CR: f. DR: CR: 8 DR: CR