Use the following information to answer the next $6$ questions:

The unadjusted trial balance for a company as of Dec. $31,2023$ appears below.

Debit Credit

Cash $$10,000$

Accounts receivable $12,000$

Inventory $15,000$

Prepaid insurance $4,800$

Equipment $9,000$

Accumulated depreciation $ $3,600$

Accounts payable $1,000$

Unearned revenue $9,400$

Common stock $22,000$

Retained earnings $7,500$

Dividends $1,000$

Revenue $28,600$

Salary expense $8,200$

Supplies expense $1,500$

Utility expense $800$

Rent expense $3,600$

Advertising expense $1,200$

Cost of Goods Sold $5,000$

$$72,100$ $$72,100$

Additional data:

Supplies were purchased for $$1,500$ during the year and debited to supplies expense. Supplies used during the year amounted to $$700.$

Accrued salaries on December $31,2020$ amount to $$600.$

Of the amount in unearned revenue, $$5,500$ had still not been earned at year$-$end.

The equipment was purchased on January $1,2021.$ It is being depreciated over a $5$ year life using the straight line method of depreciation with no salvage value.

The prepaid insurance account reflects the annual premium which was paid on October $1,2023.$

The adjusting journal entry to record item $($E$)$ above would include a:

debit to Prepaid Insurance for $$1,200$

credit to Prepaid Insurance for $$800$

credit to Insurance Expense for $$2,200$

credit to Insurance Expense for $$800$

debit to Insurance Expense for $$1,200$

IncorrectQuestion $2$

$0/1$ pts

The adjusted ending balance in Accumulated Depreciation is what amount?

$$9,000$

$$3,600$

$$5,400$

$$1,800$

$$0$