a. Photography services of $925 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.

b. Equipment purchased Jan, 1, 2010 has an estimated life of 10 years.

c. Utilities expense for Dec. is estimated to be $400, but the bill will not arrive or be paid until Jan. of next year.

d. The balance in Prepaid rent represents the amount paid in Jan, 1, 2010, for a two year lease on the studio.

e. In Nov. customers paid $2,600 cash in advance for photos to be taken for the holiday season. When received these fees were credited to unearned photo fees. By Dec. 31, all of these fees are earned.

f. A 3-year insurance premium paid on Jan.1 2010 was debited to prepaid insurance.

g. Supplies available at Dec. 31 are $1,520

h. At Dec.31, wages expense of $375 has been incurred but not paid or recorded.

Question: 

Prepare its adjusting entries: 

(1) Using the financial statement effects template.

(2) In journal entry form.