The unadjusted trial balance of Irvine Inn Company at December 31, 2018, and the data needed for the adjustments follow (Click the icon to view the unadjusted trial balance.) (Click the icon to view the adjustment data) Read the requirements Requirement 1. Journalize the adjusting entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. As of December 31, Irvine had $1,100 of Prepaid Insurance remaining. Date Accounts and Explanation Debit Credit (a) Doc. 31 Insurance Expense Prepaid Insurance To record insurance expense Choose from any list or enter any number in the input fields and then click Check Answer Data Table X. Irvine Inn Company Unadjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash GA 14,100 14,200 1,800 900 Accounts Receivable Prepaid Insurance Office Supplies Building Accumulated Depreciation-Building Accounts Payable 525,000 $ 180,000 2,500 Data Table 2,500 Accounts Payable Salaries Payable Unearned Revenue 3,200 360,840 Common Stock Dividends 1,550 Service Revenue 14,900 3,300 Salaries Expense Insurance Expense Depreciation Expense-Building Advertising Expense Supplies Expense 590 $ 561,440 $ 561,440 Total i More Info -X Adjustment data at December 31 follow: a. As of December 31, Irvine had $1,100 of Prepaid Insurance remaining. b. At the end of the month, Irvine had $200 of office supplies remaining. C. Depreciation on the building is $1,500. d. Irvine pays its employees weekly on Friday. Its employees earn $3,000 for a five-day workweek. December 31 falls on Wednesday this year. e. On November 20, Irvine contracted to perform services for a client receiving $3,200 in advance. Irvine recorded this receipt of cash as Unearned Revenue. As of December 31, Irvine has $1,500 still unearned. Print Done is and then click Check Answer Requirements - X 1. Journalize the adjusting entries on December 31. 2. The four-column ledger accounts have been opened for you using the unadjusted trial balance. Post the adjusting entries to the ledger accounts. 3. Prepare the adjusted trial balance. 4. Assuming the adjusted trial balance has total debits equal to total credits, does this mean that the adjusting entries have been recorded correctly? Explain. Print Done