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8. LO 4.3 Use the following account T-balances (assume normal balances) and correct balance information to make the December 31 adjusting journal entries. Prepaid insurance

8. LO 4.3 Use the following account T-balances (assume normal balances) and correct balance information to make the December 31 adjusting journal entries. Prepaid insurance Salaries payable Unearned rental revenue Solution Insurance Expense Prepaid Insurance Salaries Expense Salaries Payable Unearned Rental Revenue Rental Revenue T-Account Balance $26,000 $5,500 $8,000 Correct Balance $14,500 $6,200 $1,600

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