Recording Adjusting Entries Using the Financial Statement Effects Template $($FSET$)$

during the year.

An analysis of the firm's records discloses the following:

Photography services of $$5,550$ have been rendered, but customers have not yet paid or

been billed. The firm uses the account Fees Receivable to reflect amounts due but not yet billed.

Equipment, purchased January $1,$ has an estimated life of $10$ years.

Utilities expense for December is estimated to be $$2,400,$ but the bill will not arrive or be paid

until January of next year.

The balance in Prepaid Software Subscription Contract represents the amount paid on January $1$

for a $2-$year contract for high$-$functioning photo editing software and its updates.

In November, customers paid $$15,600$ cash in advance for photos to be taken for the

holiday season. When received, these fees were credited to Performance Obligations. By

December $31,$ all of the services related to these fees had been performed.

A $3-$year insurance premium paid on January $1$ was debited to Prepaid Insurance.

Supplies available at December $31$ are $$9,120.$

At December $31,$ wages expense of $$2,250$ has been incurred but not paid or recorded.

Prepare the company's adjusting entries using the financial statement effects template.