Fast Deliveries, Incorporated (FDI), was organized in December last year and had limited activity last year. The resulting balance sheet at the beginning of the current year is provided below: Assets: Cash FAST DELIVERIES, INCORPORATED Balance Sheet at January 1 Liabilities: Accounts Payable Stockholders' Equity: Common Stock $ 11,100 Accounts Receivable Supplies 760 620 $ 12,480 Total Liabilities and Stockholders' Equity Retained Earnings $ 400 11,650 430 Total Assets $ 12,480 Two employees have been hired, at a monthly salary of $2,860 each. The following transactions occurred during January of the current year. January 1 2 3 4 5 6 7 8 9 10 16 20 25 January 31a. 31b. 310. 31d. $5,100 is paid for 12 months' insurance starting January 1. (Record as an asset.) $4,800 is paid for 12 months of rent beginning January 1. (Record as an asset.) FDI borrows $30,000 cash from First State Bank at 68 annual interest; this note is payable in two years. A delivery van is purchased using cash. Including tax, the total cost was $28,800. Stockholders contribute $7,000 of additional cash to FDI for its common stock. Additional supplies costing $1,400 are purchased on account and received. $500 of accounts receivable arising from last year's December sales are collected. $300 of accounts payable from December of last year are paid. Performed services for customers on account. Sent invoices totaling $10,300. $7,200 of services are performed for customers who paid immediately in cash. $2,860 of salaries are paid for the first half of the month. FDI receives $3,600 cash from a customer for an advance order for services to be provided later in January and in February. $3,100 is collected from customers on account (see January 9 transaction). Additional information for adjusting entries: A $1,100 bill arrives for January utility services. Payment is due February 15. Supplies on hand on January 31 are counted and determined to have cost $210. As of January 31, FDI had completed 60% of the deliveries for the customer who paid in advance on January 20. Accrue one month of interest on the bank loan. Yearly interest is determined by multiplying the amount borrowed by the annual interest rate (expressed as 0.06). For anna salata Tannaru interact se na twalfth of the annual interac 31d. 31e. 31f. 319- Accrue one month of interest on the bank loan. Yearly interest is determined by multiplying the amount borrowed by the annual interest rate (expressed as 0.06). For convenience, calculate January interest as one-twelfth of the annual interest. Assume the van will be used for 4 years, after which it will have no value. Thus, each year, one-fourth of the van's benefits will be used up, which implies annual depreciation equal to one-fourth of the van's total cost. Record depreciation for the month of January, equal to one-twelfth of the annual depreciation expense. Salaries earned by employees for the period from January 16 to 31 are $1,430 per employee and will be paid on February 3. Adjust the prepaid asset accounts (for rent and insurance) as needed. Required: 4. Record all adjusting journal entries needed at January 31. Ignore income taxes. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 2 3 4 5 6 7 8 Record the adjusting entry for receipt of a $1,100 bill for January utility services. Payment is due February 15. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 2 3 4 5 6 7 8 Record the adjusting entry for supplies on hand on January 31 that are counted and determined to have cost $210. 1 2 3 4 5 6 7 8 Record the adjusting entry for FDI's completion by January 31 of 60% of the deliveries for the customer who paid in advance on January 20. 1 2 3 4 5 6 7 8 Record the adjusting entry for the accrual of one month of interest on the bank loan. < 1 2 3 4 5 6 7 8 Record the adjusting entry for depreciation for the month of January, equal to one-twelfth of the annual depreciation expense. < 1 2 3 4 5 6 7 8 Record the adjusting entry for salaries earned by employees for the period from January 16-31, which are $1,430 per employee and will be paid on February 3. 1 2 3 4 5 6 7 8 Record the adjusting entry to adjust the prepaid asset accounts for insurance as needed. Note: Enter debits before credits. Transaction (91) General Journal Debit Credit 1 2 3 4 5 6 7 8 Record the adjusting entry to adjust the prepaid asset accounts for rent as needed. Note: Enter debits before credits. Transaction (92) General Journal Debit Credit >