Adjusting Entries The following selected accounts appear in the Hawkes Company's unadjusted trial balance as of December 31, the end of the fiscal year (all accounts have normal balances): Prepaid Maintenance $6,000 Commission Fees Earned $97,000 Supplies 10,800 Rent Expense 11,200 Unearned Commission Fees 10,700 Required Prepare the necessary adjusting entries in the general journal as of December 31, assuming the following: 1. On September 1, the company entered into a prepaid equipment maintenance contract. Hawkes Company paid $6,000 to cover maintenance service for six months, beginning September 1. The $6,000 payment was debited to Prepaid Maintenance. 2. Supplies on hand at December 31 are $3,500. 3. Unearned commission fees at December 31 are $5,500. 4. Commission fees earned but not yet billed at December 31 are $4,100. (Note: Debit Fees Receivable.) 5. Hawkes Company's lease calls for rent of $900 per month payable on the first of each month, plus an annual amount equal to 4% of annual commissions earned. This additional rent is payable on January 10 of the following year. (Note: Be sure to use the adjusted amount of commissions earned in computing the additional rent.) Debit 4,000 0 $ Credit 0 4,000 7,300 0 0 7,300 > > General Journal Date Description Ref. Dec 31 Maintenance Expense (1) $ Prepaid Maintenance To record four months maintenance expense. 31 Supplies Expense (2) Supplies To record cost supplies expense. 31 Unearned Commission Fees (3) Commission Fees Earned To transfer fees earned from unearned fees. 31 Fees Receivable (4) Commission Fees Earned To record fees earned but not yet billed. 31 Rent Expense (5) Rent Payable To record additional 2018 rent. . > 3 0 5,200 0 > 5,200 4,100 0 4,100 0 > > 1,270 x 0 > > 0 1,270 x