The following information is available for Drew Gooden Company. Assume that December 31 is the end of its annual accounting period.

a. The Prepaid Insurance account shows a debit balance of \($2,340\), representing the cost of a three-year fire insurance policy that was purchased on October 1 of the current year.

b. The Office Supplies account has a debit balance of \($400;\) a year-end inventory count reveals \($80\) of supplies still available.
c. On November 1 of the current year, Unearned Rent was credited for \($1,500\). This amount represented a prepayment received for a three-month period beginning November 1.
d. Depreciation on office equipment is \($600.\)
e. Accrued salaries amount to \($4,000\). Payroll taxes need to be accrued on these salaries. Assume Social Security tax of 6.2%, Medicare tax of 1.45%, and federal and state unemployment tax rates of 0.8% and 5.4%, respectively.
Required
Record the December 31 adjusting entries for the transactions and events a through e.