Adjusting Accounts - selected accounts of ideal properties, a real estate management firm, are shown below as of January 31, 2015. For FSET, use the template style attache.

M3-24. Adjusting Accounts Selected accounts of Ideal Properties, a real estate management firm, are shown below as of January 31,2015, before any adjusting entries have been made Unadjusted Account Balances Debits Credits Supplies inventory Office equipment 1,930 5,952 $5,250 3,100 Rent revenue 15,000 Monthly financial statements are prepared. Using the following information, record the adjusting entries necessary on January 31 (a) using the financial statements effect template and (b) in journal entry form. 1. Prepaid Insurance represents a three-year premium paid on January 1,2015. 2. Supplies of $850 were still available on January 31 . 3. Office equipment- purchased on January 1,2015-is expected to last eight years anuary 1, 2015, Ideal Properties collected six months' rent in advance from a tenant rent- ing space for $875 per month. Accrued employee salaries of $490 have not been recorded as of lannan? I 5. Financial Statement Effects Template (FSET) Balance Sheet Income Statement ContributedEarned Capital Noncash Transaction Cash Assets + -Liabilities RevenueExpensesNet Income Assets Capital