1. Comprehensive Problem 1 Part 4 and Part 6:

   The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of the concepts. Note: You must complete parts 1, 2 and 3 before completing parts 4 and 6. Please note that part 5 is optional.

   Part 4: At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6).

   a. Insurance expired during May is $275. b. Supplies on hand on May 31 are $715. c. Depreciation of office equipment for May is $330. d. Accrued receptionist salary on May 31 is $325. e. Rent expired during May is $1,600. f. Unearned fees on May 31 are $3,210.

   Part 6: Journalize the adjusting entries. Then, post the entries to the attached spreadsheet from part 2.

   a. Insurance expired during May is $275.

   Date	Account Name	Post. Ref.	Debit	Credit
   May 31	Accounts Payable Cash Insurance Expense Prepaid Insurance Unearned Fees
   	Accounts Payable Cash Fees Earned Insurance Expense Prepaid Insurance

   b. Supplies on hand on May 31 are $715.

   Date	Account Name	Post. Ref.	Debit	Credit
   May 31	Accounts Payable Cash Office Equipment Supplies Supplies Expense
   	Accounts Payable Cash Office Equipment Supplies Supplies Expense

   c. Depreciation of office equipment for May is $330.

   Date	Account Name	Post. Ref.	Debit	Credit
   May 31	Accounts Receivable Accumulated Depreciation Cash Depreciation Expense Office Equipment
   	Accounts Receivable Accumulated Depreciation Cash Depreciation Expense Office Equipment

   d. Accrued receptionist salary on May 31 is $325.

   Date	Account Name	Post. Ref.	Debit	Credit
   May 31	Cash Dividends Salaries Payable Salary Expense Unearned Fees
   	Cash Dividends Salaries Payable Salary Expense Unearned Fees

   e. Rent expired during May is $1,600.

   Date	Account Name	Post. Ref.	Debit	Credit
   May 31	Accounts Receivable Cash Prepaid Rent Rent Expense Unearned Fees
   	Accounts Receivable Cash Prepaid Rent Rent Expense Unearned Fees

   f. Unearned fees on May 31 are $3,210.

   Date	Account Name	Post. Ref.	Debit	Credit
   May 31	Accounts Payable Accounts Receivable Cash Fees Earned Unearned Fees
   	Accounts Payable Accounts Receivable Cash Fees Earned Unearned Fees