Adjusting Journal Entries

Adjusting journal entries 5 journal entries 30 POINTS The ledger of ABC Company on October 31 includes the selected accounts below. Prepare the adjusting journal entries at October 31 assuming that adjusting entries are made monthly using the information provided below. For some of the adjustments you also need the information provided in the partial trial balance above. Supplies on hand at the end of the month total $50. Monthly rent is $1,000 Depreciation on the building is $6,000 per year. The note payable has an annual interest rate of 6%. During the month, the company satisfied obligations of $1,500 related to the unearned revenue. (\$1,500 of the unearned revenue was earned during the month.)