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. Debits Credits Prepaid insurance Supplies inventory Office equipment Unearned rent revenue Salaries expense $6,660 1,930 5,952 $5,250 3,100 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