Requirement $1.$ Journalize the adjusting entry needed on December $31$ for each of the items affecting Lorring Landscaping. Assume Lorring records adjusting e $($Record debits first, then credits. Select the explanation on the last line of the journal entry table.$)$

a$.$ Each Friday, Lorring pays employees for the current week's work. The amount of the weekly payroll is $$7,600$ for a five$-$day workweek. This year December $3$ its employees on January $1.$

b$.$ On January $1$ of the current year, Lorring purchases an insurance policy that covers two years, $$2,000.($When the policy was purchased on January $1,$ assum asset account.$)$

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$Dec$.31],[,,,],[,,,]]$