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Problem 4 - Adjusting Entries (35 points): Journalize the adjusting entry needed on December 31, the end of the current accounting period, for each of the following: Each Friday employees get paid for the current week's work. The amount of the payroll is $5,000 for a five-day workweek. The current accounting period ends on Wednesday The beginning balance of supplies was $3,800. During the year supplies were purchased at a cost of $5,500 and at December 31, the supplies on hand total $2,900 c) Depreciation for the current year is $4,500 on equipment and $2,000 on furniture d) Accrued service revenue at December 31 is $6,600 The inventory account has a blance of $54650 and a physical count of inventory reveals that there is $53,600 of inventory on hand at December 31 Required: Prepare the general journal entries to record the above transactions