Using the following transactions, prepare the adjusting entry to record the proper expense for 2017 and the journal entry to write off two uncollectible accounts for Fees Fountain.

A fire insurance policy for January 1, 2015, through December 31, 2016 was purchased on December 15, 2014. The premium paid totaled $24,000 and was recorded as prepaid insurance.

The operation purchased a used cash register costing $8,000 on December 18, 2014 and recorded it on the equipment account. The cash register is expected to have a useful life of five years and a salvage value of $0. No depreciation has been recorded. Fees uses the straight-line method of depreciation.

The employees were paid for their work through December 28. They worked 100 hours for the period of December 29-31 and will be paid January 10. The average hourly wage is $8.00. The related payroll taxes are 10 percent of the wages.

Sales for the year totaled $1,000,000. The allowance for doubtful accounts has a December 31 balance of $1,500 prior to write-off of two accounts totaling $300. The allowance should be adjusted at year-end to percent of sales for the year.

The electric bill for the period of December 15 through Jan. 10^th totaled $320. It has not been recorded and will be paid January 15.