Required:
Prepare the necessary adjusting entries at December 31, 2024 for each of the above situations. Assume that no financial statements
were prepared during the year and no adjusting entries were recorded.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
Answer is complete but not entirely correct.
General Journal
Debit
Credit
:30
No
Transaction
1
1
Interest receivable
Interest revenue
1,822 X
1,822
2
2
Rent expense
Prepaid rent
4,400
4,400
3
3
Deferred rent revenue
Rent revenue
4,200 X
4,200 X
4
4
Depreciation expense
Accumulated depreciation
4,700
4,700
5
5
Salaries expense
Salaries payable
8,200
8,200
6
6
Supplies expense
Supplies
4,250 X
4,250 X
