The Rohrbach Company has the following trial balance at the end of Year Four before adjusting entries are prepared. During the year, all cash transactions were recorded, but no other journal entries were made.

Other Information:

1. 1. Utilities were not paid for or recorded for the months of November and December at a total of $2,000.
2. 2. On January 1, Year Four, insurance for six months was obtained for $2,000 in cash. On July 1, Year Four, insurance for another eighteen months was obtained for $5,400 in cash.
3. 3. On January 1, Year Four, the company paid $2,000 to rent a building for four months. On May 1, Year Four, the company paid another $8,000 to rent the same building for an additional sixteen months.
4. 4. Employees are paid $8,000 for each month with payments seven days after the end of the month.Required:
   2. Prepare the needed adjusting entries.
   3. Prepare an updated trial balance. (use the attached figure)