Exercise 4-15 (Algorithmic) Adjusting Journal Entries The following selected accounts were taken from the general ledger of the Oval Enterprises on September 30 before adjusting entries have been made. Oval makes adjusting entries quarterly.

Debit Credit Supplies 4,000

Prepaid Rent 5,400

Building 100,000

Notes Receivable 25,000

Accumulated Depreciation

20,000 Unearned Revenue

8,500 Additional Information:

Rent expires at a rate of $990 per month.

Supplies on hand total $3,000.

Utilities incurred in September but not yet recorded or paid are $450.

The building depreciates at a rate of $2,600 per quarter. $5,000 of the $8,500 unearned revenue has been earned during the quarter.

Interest of $270 on the notes receivable has been earned but not yet recorded.

Required: Hide Prepare the necessary adjusting journal entries at September 30. Do not round intermediate calculations.