The unadjusted trial balance of Lexington Inn Company at December 31, 2016, 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. Data table More info Adjustment data at December 31 follow: a. As of December 31, Lexington had $1,100 of Prepaid Insurance remaining. b. At the end of the month, Lexington had $400 of office supplies remaining. c. Depreciation on the building is $3,200. d. Lexington pays its employees weekly on Friday. Its employees earn $1,600 for a five-day workweek. December 31 falls on Wednesday this year. e. On November 20, Lexington contracted to perform services for a client receiving $1,600 in advance. Lexington recorded this receipt of cash as Unearned Revenue. As of December 31, Lexington has $1,100 still unearned. Requirements 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 total debits equals total credits, does this mean that the adjusting entries have been recorded correctly? Explain