4 Journalize the adjusting entry needed at December 31 for each situation. Record debits first, then credits. Check your spelling carefully and do not abbreviate. Use account names exactly as given in the Chart of Accounts Chart of Accounts Account Title Account Number 101 105 115 120 125 140 145 150 151 155 156 160 165 170 175 178 180 182 201 210 215 235 250 255 285 305 Cash Accounts Receivable Office Supplies Prepaid Insurance Prepaid Rent Inventory Building Equipment Accumulated Depreciation - Equipment Furniture Accumulated Depreciation - Furniture Office Furniture Truck Land Copyright Franchise Patent Trademark Accounts Payable Salaries Payable Utilities Payable Unearned Revenue Notes Payable Mortgages Payable Income Taxes Payable Common Stock 315 320 410 435 501 505 514 515 516 520 535 540 545 548 550 555 Retained Earnings Dividends Service Revenue Sales Revenue Cost of Goods Sold Advertising Expense Depreciation Expense - Furniture Depreciation Expense - Equipment Income Tax Expense Insurance Expense Repairs and Maintenance Expense Rent Expense Salaries Expense Selling Expense Supplies Expense Utilities Expense Insurance for the next six months was paid on November 1st in the amount of 5810. Record the journal entry for the two months of insurance expired at year-end. Date Accounts and explanation Debit Credit Dec. 21