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E4-8 (Algo) Recording Typical Adjusting Journal Entries [LO 4-1, LO 4-2, LO 4-6] Jaworski's Ski Sloce is completing the accounting process for its ficst year

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E4-8 (Algo) Recording Typical Adjusting Journal Entries [LO 4-1, LO 4-2, LO 4-6] Jaworski's Ski Sloce is completing the accounting process for its ficst year ended December 31, 2021. The transactions during 2021 have been journalized and posted. The following dato ace avalable to determine adjusting journal entries: a. The unadjusted balance in Supplies was $290 at December 31, 2021. The unadjusted balance in Supples Experse was $0 at December 31,2021 . A yearend count showed $100 of supplies on hand b. Woges earned by employees during December 2021, unpaid and unrecorded at December 31, 2021, qrounted to $3,100. The last Wages Expense was $34,000 ot December 31,2021 . c. A portan of the storo's bosement is now being rented for $1,040 per month to K. Fiey. On November 1; 2021, the store collected six months' tent in advance from Frey in the amount of $6,240 it was creosed in full to Defered Aevenue when collected The unadjusted balance in Rent Revenue was 50 at December 3t2021 has been recorded yet 0. On December 31,2021 , the unadjusted balance in Prepaid insurance was 32.640. This was the amount paid in the middie of the yeav for a two yoar insurance policy with coverage beginning on July 1,2021 . The unsdjusted bsiance in insurence fxpense was $420 which was the cost of insurance from January 1 to sune 30.2021 C Jaworskis sloce did some swi repair work for Frey, At the end of December 31, 2021, frey had not pad for work compieteo amounting to $690. This amount has not yet been secarded as Service Revenue. Colection is expected dueing jenuary 2022. Aequired! Far esch stuation, prepare the adjusting journal enty that Jaworsh/s should rocoed at December 31 , 2021 . (If no eatry is required for a trensaction/event, select "No Journat Entry Required" in the first account field.)

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