unau .uu- um; \"an |.-r v Ill yum: uJ-ll'lllllcllll Question 2. (25 marks) Shock lnc. has a December 31 yea r-end and prepares adjustingjournal entries annually. All journal entries except for the year-end adjustments have already been correctly recorded. Information needed to prepare adjusting journal entries is below: 1. Shock signed a 6-month note payable for $40,000 on September 30 of the current year. The interest rate is 8%, and both principle and interest are due at maturity. 2. We earned interest of $90 on an overdue account. it has not yet been recorded. 3. During November, we collected $12,000 from a customer before providing services. At year end, $9,000 of this has been earned. 4. Shock incurs salary expense of $700 per day, Monday to Friday, and pays employees every Friday. December 31 is on a Wednesday. 5. On January 1, the Supplies ledger account has a debit balance of $1,100. Throughout the year, we purchased $2,000 of supplies. A count of supplies indicated that we have $800 of supplies on hand. 6. Depreciation expense for the year is $12,000. 7. On June 1, we prepaid a oneyear rental fee of $36,000 for an ofce building and moved in the same day. 8. On March 31, we purchased a one-year insurance policy for $2,700. 9. We received a bill of $640 from the City of Kamloops for utilities services from September 1 to December 31. The bill is due on January 31 and has not yet been recorded. 10. Services provided to customers for $4,500 are uncollected and unrecorded. Instructions Prepare the required December 31 adjusting journal entries. Use a Word table for your entries as specified in the Assignment 1 examplejournal entries. In the date column, please label your entries 1 through 10. You are not required to provide an explanation line. Please leave one empty row between entries