Information for year$-$end adjusting entries:

On December $31,$ there are $$1,400$ of office supplies on hand

JBCRB borrowed the $$150,000$ on February $1,2023.$ JBCRB must make annual interest payments each February $1$ and pay the full note on February $1,2025.$ The interest rate on the note is $6\%.$

Employees have earned $$2,700$ in wages for work done since the last payday $($December $24)$

The prepaid rent was paid on July $1,2023,$ and covers a one$-$year period starting on July $1,2023.$

JBCRB paid a one$-$year insurance policy on August $1,2023.$

The Building has a twenty$-$year life and a $$40,000$ residual value.

The Equipment has a ten$-$year useful life and no residual value.

December utilities are $$450$ and will be paid in January

JBCRB estimates its bad debts at $5\%$ of its accounts receivable balance.