Determine the ending balance of each of the following T-accounts. Accounts Payable Cash 130 80 80 2,300 330 90 3,100 50 Supplies 10,300 4,100 1,400 8,900 Accounts Receivable 750 180 180 180 130 es Wages Payable Cash 730 11,900 4,800 730 830 6,300 130 1,600 Fill in each of the following T-accounts for Belle Co.'s seven transactions listed here. The T-accounts represent Belle Co's general ledger. Code each entry with transaction number 1 through 7 (in order) for reference. 1. D. Belle created a new business and invested $6,400 cash, $7,100 of equipment, and $10,400 in web servers in exchange for common stock. 2. The company paid $4,100 cash in advance for prepaid insurance coverage. 3. The company purchased $900 of supplies on account. 4. The company paid $800 cash for selling expenses. 5. The company received $5,900 cash for services provided. 6. The company paid $900 cash toward accounts payable. 7. The company paid $2,600 cash for equipment. Cash Equipment End. bal. End. bal. Common Stock Web Servera End. bal. Supplies End bal Service Revenue ces End. bal. End. bal. End. bal. End. bal. Common Stock Web Servers Prepaid insurance Selling Expense End. bal. Supplies Service Revenue: End. bal Accounts Payable End, bal. For each separate case below, follow the three-step process for adjusting the prepaid asset account at December 31. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year. a. Prepaid Insurance. The Prepaid Insurance account has a $5,200 debit balance to start the year. A review of insurance policies shows that $1,150 of unexpired insurance remains at year-end. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31, adjusting entry to get from step 1 to step 2. Prepaid insurance Debit Debit b. Prepaid Insurance. The Prepaid Insurance account has a $6,390 debit balance at the start of the year. A review of insurance policies shows $1,240 of insurance has expired by year-end. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal Step 3: Record the December 31, adjusting entry to get from step 1 to step 2. Prepaid insurance Debit Debit Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31, adjusting entry to get from step 1 to step 2. Debit Debit Prepaid insurance c. Prepaid Rent. On September 1 of the current year, the company prepaid $30,000 for two years of rent for facilities being occupied that day. The company debited Prepaid Rent and credited Cash for $30,000. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31, adjusting entry to get from step 1 to step 2. Prepaid rent Record adjusting journal entries for each of the following for year ended December 31. Assume no other adjusting entries are made during the year. a. Salaries Payable. At year-end, salaries expense of $22,500 has been incurred by the company, but is not yet paid to employees. b. Interest Payable. At its December 31 year-end, the company owes $600 of interest on a line-of-credit loan. That interest will not be paid until sometime in January of the next year. c. Interest Payable. At its December 31 year-end, the company holds a mortgage payable that has incurred $1,225 in annual interest that is neither recorded nor paid. The company intends to pay the interest on January 7 of the next year. View transaction list Journal entry worksheet 1 3 At year-end, salaries expense of $22,500 has been incurred by the company, but is not yet paid to employees. Note: Enter debits before credits. Transaction General Journal Debit Credit Check my Journal entry worksheet < 1 | 2 3 At its December 31 year-end, the company owes $600 of interest on a line-of- credit loan. That interest will not be paid until sometime in January of the next year. Note: Enter debits before credits. Transaction b. General Journal Debit Credit Record entry Clear entry View general journal > At its December 31 year-end, the company holds a mortgage payable that has incurred $1,225 in annual interest that is neither recorded nor paid. The company intends to pay the interest on January 7 of the next year. Note: Enter debits before credits. Transaction General Journal Debit Credit C. Record entry Clear entry View general journal