PROBLEM #4: worth ten (10) points

Castiel, Inc. has prepared a September 30, 2020 quarter-end trial balance. Certain accounts in the trial balance do not reflect all activities that have occurred. Prepare adjusting journal entries, as needed, for the following items.

1. The Supplies account shows a balance of $550, but a count of supplies reveals only $250 on hand.

2. Castiel initially records the payments of all insurance premiums as expenses. The trial balance shows a balance of $400 in Insurance Expense. A review of insurance policies reveals that $125 of insurance is unexpired.

3. Castiel's employees work Monday through Friday, and salaries of $2,400 per week are paid each Friday. September 30^th falls on Wednesday.

4. On September 30, 2015, Castiel received a utility bill for September electricity usage of $190 that will be paid in mid-October.

5. On April 30, a ten-month,4% note for $40,000 was received from a customer.