Willow Window Washing Services prepares adjustments monthly and shows the following selected accounts on its December 31, 2023, unadjusted trial balance: Account Debit Credit Prepaid insurance \$3,450 Prepaid office rent 18,500 Prepaid subscriptions 1,210 Prepaid equipment rental 23,800 Required: Prepare the required monthly adjusting entries at December 31,2023 , based on the following additional information: The remaining balance in Prepaid Insurance was for a six-month insurance policy purchased for $6,900 and in effect on September 1, 2023. \$4,300 of the balance in Prepaid Office Rent had not been used as at December 31, 2023. $1,050 of the balance in Prepaid Subscriptions had been used as at December 31 , 2023. The company paid $30,600 on April 1, 2023, to rent equipment for a three-year period beginning April 1, 2023. Select all that apply Which of the following statements explain how the accounting equation applles to businesses? (Check all that apply.) The equation reflects that the total of what a business owns at any point in time will equal the total of what it owes creditors and owners. The equation states that Revenues - Expenses = Assets. The equation reflects the fact that, at any point in time, total revenues will atways equal total liabilities and assets. The relation of assets, llabilities and equity is reffected in the equation. The equation states that Assets = Llabilities + Equity