can someone help me solve question 1-4 ?

Answer the following questions in the space provided. Show your work. No messages are required for journal entries. 1. What is accrual accounting? (2 mark) 2. Why are adjusting entries required? (2 marks) 3. Argos Inc. has a supplies account balance of $2585 at the beginning of the fiscal period Jan 1, 2020. An inventory count at year-end, Dec 31", reveals a supplies balance of $670. Prepare the adjusting entry. 12 marks) 4. Guy buys a one year insurance policy for the company delivery van on August 15, 2020 for $2000. The fiscal period ends December 31". You are the accountant, record the following entries: a)The purchase of prepaid insurance. (2 marks) b)The adjusting entry for the end of the fiscal period. (3 marks) Show your work! c) At the year-end what is the balance in the prepaid insurance account? (1mark) How many months are remaining? (1 marks) Balance at year-end: Number of months remaining