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Required Information Use the following information for Exercises 6-7 below. (Static) [The following information applies to the questions displayed below) a. Wages of $8,000 are earned by workers but not paid as of December 31. b. Depreciation on the company's equipment for the year is $18,000 c. The Supplies account had a $240 debit balance at the beginning of the year. During the year. $5.200 of supplies are purchased. A physical count of supplies at December 31 shows $440 of supplies available. d. The Prepaid Insurance account had a $4.000 balance at the beginning of the year. An analysis of insurance policies shows that $1,200 of unexpired Insurance benefits remain at December 31. e. The company has earned (but not recorded) $1.050 of interest revenue for the year ended December 31. The Interest payment will be received 10 days after the year-end on January 10. 1. The company has a bank loan and has incurred (but not recorded) Interest expense of $2.500 for the year ended December 31. The company will pay the Interest five days after the year-end on January 5 Exercise 3-7 (Static) Analyzing adjusting entries using accounting equation LO P1, P3, P4 For each of the above separate cases, analyze each adjusting entry by showing its effects on the accounting equation-specifically Identify the accounts and amounts including increase or decrease for each transaction or event. E o