X = 2

The ledger of Paradise, Inc. on October 31, 2021, includes the following selected accounts before adjusting entries. Debit Credit Prepaid Insurance 4,800+10*X Supplies 2,800+10*X Equipment 72,000 Unearned Service Revenue 9,000 An analysis of the accounts shows the following. 1. Supplies on hand total $1,000. 2. Insurance expires at the rate of $400 per month. 3. The equipment depreciates $600 per month. 4. During October, services were performed for one-fifths of the unearned service revenue. 5. In October Paradise earned $500+10*X for consulting services that had not been recorded. Required: Prepare the adjusting entries for the month of October