Help Save & Willow Window Washing Services prepares adjustments monthly and shows the following selected accounts on its December 31 2020, unadjusted trial balance: Account Prepaid insurance Prepaid office rent Prepaid subscriptions Prepaid equipment rental Debit Credit $ 3,900 26,000 1,360 28,000 Required: Prepare the required monthly adjusting entries at December 31, 2020, based on the following additional information a. The remaining balance in Prepaid Insurance was for a six-month insurance policy purchased for $7.800 and in effect on September 1. 2020 b. $5,800 of the balance in Prepaid Office Rent had not been used as at December 31, 2020 c. $1,200 of the balance in Prepaid Subscriptions had been used as at December 31, 2020 d. The company paid $36,000 on April 1, 2020, to rent equipment for a three-year period beginning April 2020 Help View transaction list Journal entry worksheet Analysis Component: If the above adjustments were not recorded, identify the types of accounts that would be affected and if they would be understated. Assets Equity Expenses Profit