Hillside Apartments, Inc., adjusts and closes its books each December 31. Assume the accounts for all prior years have been properly adjusted and closed. Following are some of the company's account balances prior to adjustment on December 31, 1999:

Required Prepare the annual year-end adjusting entries indicated by the additional data.

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Additional data HILLSIDE APARTMENTS, INC. Partial Trial Balance December 31, 1999 Propaid Insurance Supplies on Hand Buildings Accumulated Depreciation-Buildings Unearned Rent. Salaries Expense. Rental Revenue Debits Credits $ 7,500 7,000 255,000 $ 96,000 2,700 69,000 277,500 1. The Prepaid Insurance account balance represents the remaining cost of a four-year insurance policy dated June 30, 1997, having a total premium of $12,000. 2. The physical inventory of the office supply stockroom indicates that the supplies on hand cost $3,000. 3. The building was originally acquired on January 1, 1983, at which time management estimated that the building would last 40 years and have a salvage value of $15,000. 4. Salaries earned since the last payday but unpaid at December 31 amount to $5,000. 5. Interest earned but not collected on a savings account during the year amounts to $400. 6. The Unearned Rent account arose through the prepayment of rent by a tenant in the building for 12 months beginning October 1, 1999.