The following information applies to the questions displayed below) Martin Towing Company is at the end of ts accounting year ending December 31. The following data that must be considered were developed from the company's records and related documents On January of the current year, the company purchased a new having van at a cash cost of $24100 Depreciation estimated at $2.200 for the year has not been recorded for the current yea During the current year, office supplies amounting to S90 were purchased for cash and debited in ful to Supolies. At the end of lust year, the count of supples remaining on hand was $310. The invertory of supplies courte on hand at the end of the current year was $300 On December 31 of the current year, Lanie's Garage completed repairs on one of the company's trucks at a cost of the amount is not yet recorded by Martin and by agreement will be paid during January of next year a on December 31 of the current year, property taxes on land owned during the current year were estimated $1330. The two have not been recorded and will be paid in the next year when ble e On December 3t of the current year, the company completed towing service for an out of state company for $6.500 payable by the customer within 30 days. No cash has been collected, and no journal arty has been made On sy 1 of the current year, a three-year insurance premium on puipment in the amount of 5340 was paid and debited in ful to Prepaid Insurance on that date. Coverage began on my of current yes On October of the current year the company borrowed 59.000 from the local bank on a one year 14 percent note payable. The principal plus interest is payable at the end of 12 months The income before any at the adjustments or income taxes was $34.000. The company's federal income tax rate is 40 percent int Computeadusted pre-texncome byged on through is to determine income tax expense This action B. Required information 15.00 points 2. Prepare teadusting entry required for each transaction at December 31 of the curent you. (if no entry is required for a transaction event, select "No jumal entry required in the first account field. Round your final answers to rest whole della Valve View transaction list Journal entry worksheet 8 > On January 1 of the current year, the company purchased a new hauling van at a cash cost of $24,100. Depreciation estimated at $2,200 for the year has not been recorded for the current year. Note: Enter debts before credits General Journal Deol Great Reed entry Clear entry View general Journal