a$.$ Prepaid insurance, beginning, $\backslash (\backslash$$ $600\backslash ).$ Payments for insurance during the period, $\backslash (\backslash$$ $1,800\backslash ).$ Prepaid insurance, ending, $\backslash (\backslash$$ $1,000\backslash ).$

b$.$ Interest revenue accrued, $\backslash (\backslash$$ $1,500\backslash ).$

c$.$ Uneamed service revenue, beginning, $\backslash (\backslash$$ $1,200\backslash ).$ Unearned service revenue, ending, $\backslash (\backslash$$ $800\backslash ).$

d$.$ Depreciation, $\backslash (\backslash$$ $4,400\backslash ).$

e$.$ Employees' salaries owed for three days of a flive$-$day work week; weekly payroll, $\backslash (\backslash$$ $20,000\backslash ).$

Requirements

$1.$

$2.$

Journalize the adjusting entries.

Suppose the adjustments were not made. Compute the overall overstatement or understatement of net income as a result of the omission of these adjustments. $($Use parentheses or a minus sign for any understated amounts and totals.$)$

Requirement $1.$ Journalize the adjusting entries. $($Record debits first, then credits. Explanations are not required. Leave unused cells blank.$)$

a$.$ Prepaid insurance, beginning, $\backslash (\backslash$$ $600\backslash ).$ Payments for insurance during the period, $\backslash (\backslash$$ $1,800\backslash ).$ Prepaid insurance, ending, $\backslash (\backslash$$ $1,000\backslash ).$

Journalize the adjusting entry for insurance expense.

b$.$ Interest revenue accrued, $\backslash (\backslash$$ $1,500\backslash ).$

Journalize the adjusting entry for the interest revenue accrued.

c$.$ Unearned service revenue, beginning, $\backslash (\backslash$$ $1,200\backslash ).$ Unearned service revenue, ending. $\backslash (\backslash$$ $800\backslash ).$

Journalize the adjusting entry for the uneamed service revenue earned.

d$.$ Depreciation, $\backslash (\backslash$$ $4,400\backslash ).$

Journalize the adjusting entry for depreciation.

e$.$ Employees' salaries owed for three days of a flve$-$day work week; weekly payroll, $\backslash (\backslash$$ $20,000\backslash ).$

Journalize the adjusting entry for the employee salaries owed.

f$.$ Income before income tax, $\backslash (\backslash$$ $24,000\backslash ).$ Income tax rate is $\backslash (25\backslash \%\backslash ).$

Journalize the adjusting entry for income tax expense.

Requirement $2.$ Suppose the adjustments were not made. Compute the overall overstatement or understatement of net income as a result of the omission of these adjustments.