The following information is given for Ribbons and Bows prior to adjustments on December 31, 2019. Ribbons and Bows prepares adjusting entries annually on December 31.

a)Salaries of $5,000 are paid every Friday for a five-day workweek ending on Friday. December 31, 2019, is a Thursday.

b)On October 1, 2019, Ribbons and Bows collected $10,000 to be earned evenly over the next five months and credited unearned revenue.

c)Accrued service revenue on December 31 amounts to $1,400.

d)On June 1, 2019, Ribbons and Bows purchased a $4,800, two-year insurance policy and debited an asset account.

e)The supplies account had a January 1, 2019, balance of $2,400. Purchases of supplies during 2019 amounted to $3,500 and were debited to supplies asset account. Supplies on hand December 31, 2019, amount to $800.

Prepare adjusting entries needed on December 31, 2019.