NAME: sam mohammed Alghaundi HOMEWORK PROBLEM: DUE FRIDAY, SEPTEMBER 10, 2021 AT 8:00 AM. NO EXCEPTIONS! The CROFTON, MCNICHOLAS & AMICONE (CMA) Company are in the process of preparing their financial statements for the YEAR ended December 31, 2020. The Company has provided you with the following selected account balances from its UNADJUSTED trial balance: DEBIT CREDIT Cash $20,000 Accounts Receivable 18,000 Machinery 420,000 Accumulated Depreciation $15,000 Prepaid Insurance 24,000 Supplies on hand 8,000 Service Revenue 45,000 Accounts payable 20,000 Miscellaneous expenses 3,000 ADDITIONAL DATA: (b) c) (d) At the end of the year it was determined that S2,000 of supplies were still on hand. The employees have earned money for work done during December 2020 but for which they will not be paid until January of 2021. The amount was $8,000 The Company paid their fire insurance on November 1, 2020 for 12 months in advance. The machinery is expected to have a useful life of 10 years with an estimated scrap value of $20,000 Customers paid the Company $45,000 in advance for services to be performed equally over 3 months--- November 2020, December 2020, and January (2021). Show the adjusting entry for (e) if the $24,000 were initially recorded in "Insurance expense". Show the adjusting entry for supplies in (a) if the $8,000 were initially recorded in "Supplies Expense." (e) (1) (9) REQUIRED: ON THE NEXT PAGE PREPARE THE PROPER ADJUSTING ENTRIES REQUIRED AT 12-31-20. SHOW ALL COMPUTATIONS CLEARLY!!! USE THE FORMAT PROVIDED. The company adjusts its books annually!!!. ADJUSTING ENTRY COMPUTATION (a) DR: CR: (b) DR: CR: DR: CR: (d) DR: CR: @ DR: CR: (1) DR: CR: DR: CR