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0.6 / 1 pts Question 10 Determine whether the following transactions would result in an adjusting entry using the dropdown menus provided. Transaction Adjusting Entry? Yes Yes A car rental company previously purchased $500,000 worth of vehicles for its rental fleet. It records depreciation of $50,000 at the end of the year for the cars. A large accounting firm purchases $400 worth of food for an office party using cash. A coffee shop pays their employees $2,000 for work done throughout the last two months. A grocery store purchased flood insurance a few months ago. The policy cost $500, which the store paid up front in cash. The insurance policy covers the next six months, and the store makes journal entries at the end of each of these months. Yes Yes A cleaning company has supplies worth $20,000 at the beginning of the year. At the end of the year, they have $16,000 left in the supplies account. Yes