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	$6,760
Supplies	2,030
Office equipment	5,952
Unearned rent revenue		5,850
Salaries expense	3,200
Rent revenue		15,100

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 $950 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 $975 per month

e. Accrued salaries not recorded as of January 31 are $590

Round your answer to the nearest dollar.

General Journal Date Description Debit Credit 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