a. On October 1, a business collected $3,000 rent in advance, debiting Cash and crediting Unearned Revenue. The tenant was paying one year's rent in advance. At December 31, the business must account for the amount of rent it has earned. Print Date Accounts and Explanation Debit Credit (a) Dec. 31 (1) (2) (3) (4) (5) b. Salaries expense is $1,800 per dayMonday through Fridayand the business pays employees each Friday. This year December 31 falls on a Thursday. Date Accounts and Explanation Debit Credit (b) Dec. 31 (6) (7) |(8) (9) (10) c. The unadjusted balance of the Office Supplies account is $3,000. Office supplies on hand total $1,900. Date Accounts and Explanation Debit Credit (c) Dec. 31 (11) (12) (13) |(15) d. Equipment depreciation was $500. Date Accounts and Explanation Debit Credit (d) Dec 31 (16) |(17) (18) |(19) (20) Debit e. On April 1, when the business prepaid $4,320 for a two-year insurance policy, the business debited Prepaid Insurance and credited Cash. Date Accounts and Explanation Credit (e) Dec. 31 (21) (22) (23) |(24) (25) 2: More Info a. On October 1, a business collected $3,000 rent in advance, debiting Cash and crediting Uneamed Revenue. The tenant was paying one year's rent in advance. On December 31, the business must account for the amount of rent it has earned. b. Salaries expense is $1,800 per dayMonday through Fridayand the business pays employees each Friday. This year December 31 falls on a Thursday C. The unadjusted balance of the Office Supplies account is $3,000. Office supplies on hand total $1,900. d. Equipment depreciation was $500. e. On April 1, when the business prepaid $4,320 for a two-year insurance policy, the business debited Prepaid Insurance and credited Cash. (1) O Depreciation Expense-Equipment Office Supplies Salaries Payable O Accounts Receivable Insurance Expense O Prepaid Insurance Supplies Expense O Accumulated Depreciation Equipment Interest Expense O Rent Revenue Unearned Revenue O Cash O Interest Payable O Salaries Expense