Exercise 277 Prepare adjusting entries for the following transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) 1. Depreciation on equipment is $1,340 for the accounting perlod 2. Interest owed on a loan but not paid or recorded is $275 3. There was no beginning balance of supplies and $550 of office supplies were purchased during the period. At the end of the period $1 4. Prepaid rent had a $1,000 normal balance prior to adjustment. By year end $700 had expired 5. Accrued salaries at the end of the period amounted to $900. 00 of supplies were on hand. No. Account Titles and Explanation Debit Credit 1. Depreclation Experse 1,340 Accumulated Depreciation-Equipment 1,340