Homework: Chapter 3 Score: 0 of 5 pts X E3-22 (book/static) 30f 5 (3 complete) HW Score: 0%, 0 of 25 Question Help Consider the following independent situations at December 31 (Click the icon to view the situations) Journalize the adjusting entry needed on December 31 for each siluation Use the lelters to label the jaurnal entries (Record debils first, then credits Select the explanation an the last line of the journal entry lable) a. On October 1, a business collected $3,000 rent in advance, dabiting Cash and craditing Unearned Ravenue. The tenant was paying one yaar's rent in advance. At December 31, the business must account for the amount of rent it has earned. Date Accounts and Explanation Debit Credit More Into (a) Dec 31 Unearned Revenue 750 Rent Revenue 750 On October 1, a business collected $3,000 rent in advance, debiting Cash and crediting Uneamed Revenue. The tenant was paying one year's rent in advance. On December 31the business must account for the amount of rent 2 has earned Salaries expense is 51,800 par day-Monday through Friday-and the business pays employees each Friday. This year December 31 falls on a Thursday The unadjusted balance of the Office Supplies account is $3,000. Office supplies on hand total 51,900 Equipment depreciation was 3500. On April 1, when the business prepaid $4 320 for a two-year insurance policy, the business debitad Prepaid Insurance and credited Cash. a. b. c. Cash collecled for fulure services Paid cash expenses To accrue rent revenue. To accrue salaries expense. To record depreciation on equipment To record insurance expense. To record office supplies used. To record rent revenue that was collacted in advance d. e. PrintDone