Adjusting Entries Selected accounts of Ideal Properties Inc., a real estate management firm, are shown below as of January 31, before any adjusting entries have been made:

	Debit	Credit
Prepaid insurance	$7,060
Supplies	2,330
Office equipment	6,336
Unearned rent revenue		5,490
Salaries expense	3,500
Rent revenue		15,400

Monthly financial statements are prepared. Using the following information, record in a general journal the adjusting entries necessary on January 31:

a. Prepaid Insurance represents a three-year premium paid on January 1.

b. Supplies of $890 were on hand January 31.

c. Office equipment is expected to last eight years. Depreciation is recorded monthly.

d. On January 1, the firm collected six months' rent in advance from a tenant renting space for $915 per month

e. Accrued salaries not recorded as of January 31 are $530

Round your answer to the nearest dollar.

General Journal Description Date a. Jan. 31 To record January Insurance expense. b. Jan. 31 To record January supplies expense. C. Jan. 31 To record January depreciation on office equipment. d. Jan. 31 To record portion of advance rent earned in January. e. Jan. 31 To record accrued salaries at January 31. Debit Credit