Week 4 will consist of the end of the month, as a result you will be completing Adjusting Journal Entries for Week 4 and the resulting Trial Balance will be the Adjusted Trial Balance. For the Adjusting Journal Entries consider the following items for Gee Wiz in Week 4:

1. On 1/29 Gee Wiz paid $6,500 for 12 months of Insurance. The insurance coverage began 1/1/2022 and ends 12/31/2022.
2. On 1/30 Gee Wiz received $25,000 as an advanced payment for services to be rendered in February and March.
3. On 1/31 Gee Wiz paid $450 rental for a storage unit. The payment allows Gee Wiz to use the storage facility from 2/1/2022 until 6/30/2022.
4. Gee Wiz Typically pays employees twice a month (on the second and fourth Thursdays off the month). The payment is for the work performed the previous two weeks (for example, in February Gee Wiz will pay salaries of $1,500 on Thursday, February 10 for work performed from Monday January 24^th through Friday February 4^th. Gee Wiz will pay salaries of $1,500 on Thursday, February 24 for work performed from Monday February 7^th through Friday February 18^th, etc) Record the appropriate Accrual for January.
5. Gee Wiz has decided to offer a profit sharing plan to its employees. Gee Wiz estimates that it will contribute $1,000 to the plan for 2022. Record the appropriate Accrual for January.
6. Gee Wiz determined that it had $800 of depreciation in January. Record the depreciation expense.