Question: write clearly please and fast !! 2. Charles & Charles Company analysed each of its accounts on the last day of December 2019, the following

write clearly please and fast !!

2. Charles & Charles Company analysed each of its accounts on the last day of December 2019, the following information are available: i. Prepaid Insurance total of $600 expired. ii. Charles & Charles earned $4,000 for services, that had not been recorded yet. iii. Advertising expenses of $1,200 are still unpaid and accrued. iv. Services related to unearned service revenue of $5,000 has now been earned. v. Charles & Charles purchased material supplies worth $25,000 on the first day of the year (this transaction is already recorded in the books). After an inventory count on the last day of the year (December 31), it was revealed that material supplies worth $3,000 are still on hand. Required: a. Write the adjusting journal entries for the above mentioned transactions. (5 marks) b. State the type of adjusting entry (only the name) for the above mentioned transactions

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