Winter Designs was organized on January 1, 2014, by Katie Brownsey. Winter Designs records all prepaid...

Winter Designs was organized on January 1, 2014, by Katie Brownsey. Winter Designs records all prepaid costs as expenses and revenue received in advance as revenue. At the end of the first year of operations, the trial balance had the following accounts: WINTER DESIGNS Trial Balance December 31, 2014 Debit Credit Cash Accounts receivable Equipment Accounts payable Notes payable K. Brownsey, capital K. Brownsey, drawings Service revenue Insurance expense Rent expense Salaries expense Supplies expense $16,110 25,550 83,200 $14,550 42,200 59,860 40,490 127,962 4,272 8,840 59,850 6,260- $244,572 S244,572 Analysis reveals the following additional data 1. On February 1, 2014, the company purchased a one-year insurance policy. 2. The one-year, 6% note payable was issued on March 1, 2014, Interest and pnncipal are payable on the maturity date 3. The equipment was purchased on March 2, 2014, and has an estimated useful life of eight years. 4. At December 31, 2014, there was $810 of supplies on hand 5. At December 31, 2014, service revenue of $2,580 was unearned 6. Service revenue earned but unbilled and unrecorded at December 31, 2014, totalled $1,275 7. January 2015 rent of $680 was paid on December 31, 2014, and is indluded in Rent Expense.

ournalize the adjusting entries at December 31, 2014. (Adjustments are recorded annually.) (Credit account titles are automatically indented when amount is entered. Do not indent manually If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Round answers to the nearest whole dollar, e.g. 5,275.) No. Date Account Titles and Explanation 1. Dec. 31 Debit Credit 2. Dec. 31 3. Dec. 31 4. Dec. 3 5. Dec. 31 6. Dec. 31 7. Dec. 31