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. Requirement 1. Journalize the adjusting entries. (Record debits first, then credits. Select the explanation on the las line of the journal entry table.) 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. Print Done 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 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. Requirement 2. The four-column ledger accounts have been opened for you using the unadjusted trial balance. Post the adjusting entries to the ledger accounts. a. As of December 31, Lexington had \$1,100 of Prepaid Insurance remaining. Review the journal entry you prepared in Requirement 1. b. At the end of the month, Lexington had $400 of office supplies remaining. Review the journal entry you prepared in Requirement 1. tequirement 3. Prepare the adjusted trial balance. tequirement 4. Assuming the adjusted trial balance total debits equals total credits, does this mean that the djusting entries have been recorded correctly? Explain. in adjusting entry recorded for the incorrect amount the debit and the credit mount is the same