More info a. b. C. d. e. f. On May 1, $4,200 rent was collected in advance. Cash was debited and Unearned rent revenue was credited. The tenant was paying six months' rent in advance. The business holds a $50,000 note receivable. Interest revenue of $770 has been earned on the note not yet received. Salaries expense is $3,100 per day, Monday through Friday, and the business pays employees each F This year, July 31 falls on a Wednesday. The unadjusted balance of the Supplies account is $1,400. Supplies on hand total $500. Equipment was purchased two years ago at a cost of $4,000. The equipment's useful life is five years. On January 1, when $1,560 was paid for a one-year insurance policy, Prepaid insurance was debited an Cash was credited.