You are working with Complete Business Services on the year-end adjustments for one of your clients, Curate Canvas Ltd. You are required to comply with the following information given by the client to finalise the year end adjustment entries: Please follow the extract of the accounting Policies and Procedures of Curate Canvas Ltd. based on accrual accounting as below: All the prepaid expenses need to be adjusted on the last day of the period to match the revenue for the same period. The unused portion of the prepaid expenses need to be carried forward as current assets for the following period Any expenses due but not paid should be recognised as an expense to match the revenue of the respective period. Any revenue which is accrued in the period should be recognised as income for that period. Any revenue which is received as advance should be considered as current liability. Any shortfalls of stocks / Obsolete stocks need to be written off at the end of the period - expense account "COGS" need to be charged for the profit/loss appropriation. The amount of bad debts calculated every year, after following up the collection procedures, need to be written off on balance day of the respective financial year. The company needs to make a provision for doubtful debts at the rate of 2% of the accounts payable balances each year on the balance day. Complete the following adjustments using the above Policies and Procedures information. A General Journal template is provided for you to finish the journal entries for the below year-end adjustments: a) Wages due but not paid $400 b) Prepaid insurance $220 c) Interest earned but not yet received $600 d) Rent received in advance $400 e) Long service leave provision to be made $1100 f) Long service leave payment made for $700 g) The amount of bad debts to be written off from the current year accounts receivables in amounting $880 h) Accounts receivables balance on 30 June 2020 is $55000. There is no existing balance in the allowance for doubtful debts. i) Obsolete stock during stocktake amounting $550 needs to be written off. State which of the above Policies and Procedures for Curate Canvas Ltd guided you to post the general journal transaction for this adjustment? Why? i) Credit sales occurring during the current period amounting to $440 (inclusive GST) were not recorded. The cost of sales was $250. General Journal Template