Golden Eagle Company has the following balances at the end of November:

The following information is known for the month of December:
1. Purchases of supplies for cash during December were $4,500. Supplies on hand at the end of December equal $3,500.
2. No insurance payments are made in December. Insurance expired in December is $2,000.

3. November salaries payable of $11,000 were paid to employees in December. Additional salaries for December owed at the end of the year are $16,000.
4. On December 1, Golden Eagle received $4,500 from a customer for rent for the period December through February. By the end of December, one month of rent has been provided.

Required:
For each item, 

(a) Record any transaction during the month of December, 

(b) Prepare the related December 31 year-end adjusting entry.

Transcribed Image Text:

Supplies Prepaid Insurance Salaries Payable Deferred Revenue November 30 Debit $2,000 8,000 Credit $11,000 0