Journalize the adjusting entry needed at December 31, the end of the current accounting year, for each of the following independent cases affecting Premier Power-sports, Inc. No other adjusting entries have been made for the year.

a. Prior to making the adjusting entry on December 31, the balance in Prepaid Insurance is $4,800. Premier Power-sports, Inc., pays liability insurance each year on June 1.

b. Premier Power-sports, Inc., pays employees each Friday. The amount of the weekly payroll is $6,500 for a five-day workweek. December 31, the fiscal year-end, is a Tuesday.

c. Premier Power-sports, Inc., received notes receivable from some customers for services provided. For the current year, accrued interest amounts to $835 and will be collected next year.

d. The beginning balance of Supplies was $900. During the year, $3,800 of supplies were purchased. At December 31, the supplies on hand total $1,400.

e. During the year, Premier Power-sports, Inc., received $12,500 in advance for services to be provided at a later date. As of December 31, Premier Power-sports, Inc., earned $8,900 of the total fees received in advance during the current year.

f. Depreciation for the current year includes Vehicles, $2,550 and Equipment, $1,000?