Exercise 3-20 When the accounts of Kingbird Inc. are examined, the adjusting data listed below are uncovered on December 31, the end of an annual fiscal period. 1. The prepaid insurance account shows a debit of $6,864, representing the cost of a 2-year fire insurance policy dated August 1 of the current year. 2. On November 1, Rent Revenue was credited for $1,872, representing revenue from a subrental for a 3-month period beginning on that date. 3. Purchase of advertising materials for $732 during the year was recorded in the Advertising Expense account. On December 31, advertising materials of $285 are on hand. 4. Interest of $715 has accrued on notes payable. Prepare the following in general journal form. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) (a) The adjusting entry for each item. No. Account Titles and Explanation Debit Credit (b) The reversing entry for each item where appropriate. No. Account Titles and Explanation Debit Credit Exercise 3-20 Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation-Equipment Administrative Expenses Admissions Revenue Advertising Expense Allowance for Doubtful Accounts Bad Debt Expense Buildings Cash Common Stock Cost of Goods Sold Current Maturity of Long-Term Debt Delivery Expense Depreciation Expense-Building Depreciation Expense-Equipment Dividends Dues Revenue Equipment Green Fees Revenue Income Summary Income Tax Expense Insurance Expense Interest Expense Interest Payable Interest Receivable Interest Revenue Inventory Land Maintenance and Repairs Expense Mortgage Payable No Entry Notes Payable Notes Receivable Office Expense Owner's Capital Owner's Drawings Prepaid Advertising Prepaid Insurance Prepaid Rent Rent Expense Rent Receivable Rent Revenue Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Discounts Sales Returns and Allowances Sales Revenue Selling Expenses Service Revenue Supplies Supplies Expenses Utilities Expenses Unearned Dues Revenue Unearned Service Revenue Unearned Rent Revenue