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Here is the problem: Slimbuster, Inc. adjusts its books only on an annual basis. Among other items, the trial balance of Slimbuster at December 31,

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Here is the problem: Slimbuster, Inc. adjusts its books only on an annual basis. Among other items, the trial balance of Slimbuster at December 31, 2019 includes the following account balances: Prepaid Insurance $14,000 debit balance Prepaid Rent $22,100 debit balance Supplies on Hand $2,400 debit balance Examination of the cords shows that adjustments should be made for the following: A. Of the prepaid insurance on the trial balance, $2,300 is for insurance coverage during the months after December 31, 2019. B. The balance in the Prepaid Rent account on the trial balance is for a 12-month period that started October 1, 2019. c. Interest income in the amount of $300 has been earned by Slimbuster, but not yet received as of December 31, 2019. D. Supplies used up during 2019 amount to $2,000. E. Salaries earned since the last payday but unpaid by Slimbuster as of December 31, 2019 amount to $4,200. Required: Prepare the annual year-end adjusting journal entries required at December 31, 2019

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