Chapter 02 0 Savest 10 3 points ellook Print Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-endis December 31. The unadjusted trial balance as of December 31, 2021, appears below. Account Title Debits Credits Cash 32.800 Accounts receivable 41,600 Supplies 2,300 Inventory 61,600 Notes receivable 21,600 Interest receivable Prepaid rent 2,400 Prepaid insurance 6,800 office equipment 86,400 Accumulated depreciation 32,400 Accounts payable 32,600 Salaries payable Notes payable 51,600 Interest payable Deferred sales revenue 2.800 Common stock 78,4ea Retained earnings 32,500 Dividends 5,600 Sales revenue 154,000 Interest revenue Cost of goods sold 78.800 Salaries expense 19,700 Rent expense 11,800 Depreciation expense 0 Interest expense 0 Supplies expense 1.900 Insurance expense Advertising expense 3,800 Totals 376, 380 376,300 10 Information necessary to prepare the year-end adjusting entries appears below 3 points cBook 1 Depreciation on the office equipment for the year is $10,800. 2. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries eard from the 16th through the end of the month Salaries earned from December 16 through December 31, 2021, were $1,400 3. On October 1, 2021, Pastina borrowed $51,600 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 yetirs. 4. On March 1, 2021, the company lent a supplier $21600 and a note was signed requiring principal and interest at 9% toe paid on February 28, 2022 5. On Apr 1, 2021, the company paid an insurance company $6,800 for a one-year fire Insurance policy. The entire $6.800 was debited to prepaid insurance 6. $900 of supplies remained on hand at December 31, 2021 7. A customer paid Pastina $2,800 in December for 1548 pounds of spaghetti to be delivered in January 2022. Pastina credited 8. On December 1, 2021. $2,400 rent was paid to the owner of the building the payment represented rent for December 2021 and January 2022 at $1200 per month. The entire amount was debited to prepaid rent. Price Required: Prepare the necessary December 31, 2021, adjusting journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round Intermediate calculations. Round your final answers to nearest whole dollar amount.) View transaction list Journal entry worksheet 2 3 6 6 7 8 Depreciation on the office equipment for the year is $10,800. Note Enter debit before credits Transaction General Journal Credit 1 Me Grow
