3 of 8 (4 complete) Score: 3.2 of 5 pts %E3-21A (similar to) Red Rentals Company faced the following situations. (Click the icon to view the situations.) Requirement 1. Journalize the adjusting entry needed at December 31, 2020, for each situation. Consider each fact separately. (Record debits first, then credits. Exclude d. Salary expense is $5,900 per day-Monday through Friday and the business pays employees each Friday. This year, December 31 falls on a Thursday, Journal Entry Debit Credit Morelo d. Accounts Salary Expense Salary Payable 23,600 23,600 o. The unadjusted balance of the Supplies account is $2,800. The total cost of supplies on hand is Journal Entry Accounts Debit Credit Depreciation Expense Equipment Accumulated Depreciation-Equipment a. The business has interest expense of $3,300 that it b. Interest revenue of $4,200 has been earned but not y c. On July 1, 2020, when the business collected $12,00 Revenue. The tenant was paying for two years' rent d. Salary expense is $5,900 per day-Monday through year, December 31 falls on a Thursday, e. The unadjusted balance of the Supplies account is $2 f. Equipment was purchased on January 1 of this year al There is no residual value. Record depreciation for this 0 Print Choose from any list or enter any number in the input fields and then click Check Answer. Darts 3 of 8 (4 complete) Question Help Eh situation. Consider each fact separately. (Record debits first, then credits. Exclude explanations from any journal entries.) usiness pays employees each Friday. This year, December 31 falls on a Thursday, Credit More INO 23,600 est of supplies on hand is a. The business has interest expense of $3,300 that it must pay early in January 2021. b. Interest revenue of $4,200 has been earned but not yet received. c. On July 1, 2020, when the business collected $12,000 rent in advance, it debited Cash and credited Uneamed Rent Revenue. The tonant was paying for two years' rent. d. Salary expense is $5,900 per day-Monday through Friday and the business pays employees each Friday. This year, December 31 falls on a Thursday, o. The unadjusted balance of the Supplies account is $2,800. The total cost of supplies on hand is $1,400 f. Equipment was purchased on January 1 of this year at a cost of $200,000. The equipment's useful life is five years, There is no residual value. Record depreciation for this year and then determine the equipment's book value. Credit Print Done en click Check