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Exercise 3-4 Preparing adjusting entries LO P1, P3, P4 a. Wages of $12,000 are earned by workers but not paid as of December 31. b. Depreciation on the company's equipment for the year is $10,360. c. The Office Supplies account had a $330 debit balance at the beginning of the year. During the year, $6,107 of office supplies are purchased. A physical count of supplies at December 31 shows $661 of supplies available. d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An analysis of insurance policies shows that $2,700 of unexpired insurance benefits remain at December 31. e. The company has earned (but not recorded) $500 of interest revenue for the year ended December 31. The interest payment will be received 10 days after the year-end on January 10. f. The company has a bank loan and has incurred (but not recorded) interest expense of $4,500 for the year ended December 31. The company will pay the interest five days after the year-end on January 5. For each of the above separate cases, prepare adjusting entries required of financial statements for the year ended (date of) December 31. View transaction list Journal entry worksheet Wages of $12,000 are earned by workers but not paid as of December 31. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal