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	$6,840
Supplies	2,100
Office Equipment	6,240
Unearned Rent Revenue		$5,400
Salaries Expense	3,250
Rent Revenue		16,000

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 $975 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 $925 per month.

e. Accrued salaries not recorded as of January 31 are $510.