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Save Homework: Chapter 3 part B homework Score: 0 of 1 pt 2 of 8 (0 complete) E3-22 (similar to) HW Score: 0%, 0 of 9 p Question Help Consider the following independent situations at December 31: (Click the icon to view the situations.) Journalize the adjusting entry needed on December 31 for each situation. Use the letters to label the journal entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. On July 1, a business collected $3,900 rent in advance, debiting Cash and crediting Unearned Revenue. The tenant was paying one year's rent in advance. At December 31, the business must account for the amount of rent it has earned. Date Accounts and Explanation Debit Credit (a) Dec 31 Choose from any list or enter any number in the input fields and then click Check Answer. A parts Check Answer 4 remaining Clear All

Answer 1

Date	Account titles and explanation	Debit	Credit
(a) Dec 31	Unearned revenue	$1950
	Rent revenue		$1950
	(To record rent revenue)
(b) Dec 31	Salary expense	$8000
	Salary payable		$8000
	(To record accrued salaries)
(c) Dec 31	Supplies expense	$2100
	Supplies		$2100
	(To record supplies used)
(d) Dec 31	Depreciation expense	$700
	Accumulated depreciation- Equipment		$700
	(To record depreciation)
(e) Dec 31	Insurance expense	$450
	Prepaid insurance		$450
	(To record insurance expense)

1) Rent expense= $3900*6/12= $1950

From July 1 to Dec 31= 6 months

One year rent in advance= 12 months

2) Salary expense= $2000*4= $8000

From Monday to Thursday= 4 days

3) Supplies expense= $3300-1200= $2100

4) Insurance expense= $1200*9/24= $450

From April 1 to Dec 31= 9 months

Two year insurance policy=24 months