16. ADJUSTING ENTRIES (6 Marks) Selected accounts of Mary's Marketing Company are shown below in the trial balance of January 31" of the current year before any adjusting entries have been made. The company's accounting year begins January 1", Debit Credit Prepaid Rent 3,300 Supplies on Hand 2,700 Office Equipment 9,000 Unearned Marketing Fees 3,100 Marketing Fees 9,980 3,000 Wages Expense Use the following information to prepare the necessary January 31 adjusting entries for the month of January, creating accounts if required: a. Prepaid rent represents rent paid for January, February, March b. January 31 supplies on hand total $800 c. Office Equipment is expected to last 3 years, with no remaining value after 3 years. d. Last month, the firm received $3,100 fees in advance. One-half of these fees were cared during January c. Salary expense is $300 per day - Monday through Friday- and the business pays employees each Friday. This year January 31 falls on a Monday. f. Mary performed 4.5 hours of work at $100 per hour on January 31", but didn't bill the customer under February 4, DATE ACCOUNT DEBIT CREDIT