(Learning Objective 3: Journalizing adjusting entries) Jenkins Motor Company faced the following situations. Journalize the adjusting entry needed at December 31, 20X6, for each situation. Consider each fact separately.

a. The business has interest expense of $9,500 that it must pay early in January 20X7.

b. Interest revenue of $4,500 has been earned but not yet received.

c. On July 1, when we collected $13,600 rent in advance, we debited Cash and credited Unearned Rent Revenue. The tenant was paying us for two years’ rent.

d. Salary expense is $1,800 per day—Monday through Friday—and the business pays employees each Friday. This year, December 31 falls on a Wednesday.

e. The unadjusted balance of the Supplies account is $3,300. The total cost of supplies on hand is $1,200.

f. Equipment was purchased at the beginning of this year at a cost of $100,000. The equipment’s useful life is fi ve years. There is no residual value. Record depreciation for this year and then determine the equipment’s carrying amount.