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Intuit Realty opened for business on September 1, 2020. At December 31, 2020, Intuit's trial balance (prior to any adjustments) revealed the following: As appropriate

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Intuit Realty opened for business on September 1, 2020. At December 31, 2020, Intuit's trial balance (prior to any adjustments) revealed the following: As appropriate you can attach (click on the paperclip in the toolbar) the answer after completing it in a Word, Excel, or .pdf file. a. The December 31 unadjusted balance of $1,440 in prepaid insurance represents a one-year premium that was paid on September 1. b. The December 31 unadjusted balance in supplies is $860. A physical count on December 31 shows $115 of supplies remaining. c. The December 31 unadjusted balance of unearned rent revenue was $12,000. Of this amount, $4,000 was earned during the four months ended December 31. d. Salaries of $16,000 were earned by employees in the last week of 2020; at December 31, Intuit has neither recorded nor paid these salaries e. There is no balance in accounts receivable at December 31. Rent due from tenants of $10,000 has not yet been recorded. f. There is a $7,500 balance in mortgage payable at December 31. The interest rate on the mortgage is 5% per year. The mortgage was entered into on Sep 1, 2020 and no payments of principal or interest have been made or recorded since that date. Required: Prepare all necessary adjusting journal entries in good form for the four months ended December 31, 2020. (Although you are always welcome to use T-accounts, they are not required.)

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