Transaction Analysis and Adjustments For each of the following unrelated situations, determine the financial statement effect using the Transaction Analysis Tem a. The Supplies account has a balance of $2,990. Supplies on hand at the end of the period totaled $1,100. b. On the date for preparing financial statements, an estimated utilities expense of $390 has been incurred incurred, but no utility bill has been received. c. On the first day of the current month, rent for four months was paid and recorded as a $2,800 increase to Prepaid Rent and a $2,800 decrease in Cash. Monthly statements are now being prepared. d. Nine months ago, Solid Insurance Company sold a one-year policy to a customer and recorded the receipt of the premium by increasing Cash and Unearned Premium Revenue for $624. No adjusting entries have been prepared during the nine-month period. Annual financial statements are now being prepared. e. At the end of the accounting period, employee wages of $965 have been incurred but not paid. f. At the end of the accounting period, $300 of interest has been earned but not yet received on notes receivable. Note: Use negative signs with answers, when appropriate