View Policies Current Attempt in Progress Sheffield Services Company records adjusting entries on an annual basis. The following information is available to be used in recording adjusting entries for the year ended December 31, 2024. 1 Prepaid insurance totalling $250 has expired. 2 Supplies of $250 have been used. 3. Annual depreciation on equipment is $1,100. 4. Services related to unearned revenue of $256 were performed. 5. Salaries of $700 are unpaid. 6. Utility expenses for 2024 of $150 are unrecorded and unpaid. 7. Services provided but not collected in cash or recorded total $900. 8 Interest of $75 on a note payable has accrued. Question 1 of 6 > For each adjustment, prepare a basic analysis and a debit-credit analysis. Use the following format, in which the first one has been done: No. Basic Type Increase/Decrease Specific Account 1 Debit Expense Increases Insurance Expense Credit Asset Decreases Prepaid Insurance 2. Debit Credit 3. Debit Credit 4. Debit Credit 5. Debit > v Credit 6. Debit Credit 7. Debit Credit 8. Debit Credit Prepare the adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) No. Date Account Titles and Explanation 1. Dec. 31 2. Dec. 31 3. Dec. 31 4. Dec. 31 Debit Credit 5. Dec. 31 6. Dec. 31 7. Dec. 31 8. Dec. 311