Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below.

Account Title	Debits		Credits
Cash	32,600
Accounts receivable	41,000
Supplies	2,000
Inventory	61,000
Notes receivable	21,000
Interest receivable	0
Prepaid rent	1,400
Prepaid insurance	7,000
Office equipment	84,000
Accumulated depreciation			31,500
Accounts payable			32,000
Salaries payable			0
Notes payable			51,000
Interest payable			0
Deferred sales revenue			2,500
Common stock			67,000
Retained earnings			31,000
Dividends	5,000
Sales revenue			151,000
Interest revenue			0
Cost of goods sold	75,000
Salaries expense	19,400
Rent expense	11,500
Depreciation expense	0
Interest expense	0
Supplies expense	1,600
Insurance expense	0
Advertising expense	3,500
Totals	366,000		366,000

Information necessary to prepare the year-end adjusting entries appears below.

1. Depreciation on the office equipment for the year is $10,500.
2. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $1,000.
3. On October 1, 2021, Pastina borrowed $51,000 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years.
4. On March 1, 2021, the company lent a supplier $21,000 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022.
5. On April 1, 2021, the company paid an insurance company $7,000 for a one-year fire insurance policy. The entire $7,000 was debited to prepaid insurance.
6. $620 of supplies remained on hand at December 31, 2021.
7. A customer paid Pastina $2,500 in December for 1,000 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue.
8. On December 1, 2021, $1,400 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $700 per month. The entire amount was debited to prepaid rent.

PASTINA COMPANY
Post-Closing Trial Balance
December 31, 2021
Account Title	Debits	Credits
Cash	$32,600selected answer correct
Accounts receivable	41,000selected answer correct
Supplies	620selected answer correct
Inventory	61,000selected answer correct
Notes receivable	21,000selected answer correct
Interest receivable	1,400selected answer correct
Prepaid rent	700selected answer correct
Prepaid insurance	1,750selected answer correct
Office equipment	84,000selected answer correct
Accumulated depreciation		$42,000selected answer correct
Accounts payable		32,000selected answer correct
Salaries payable		1,000selected answer correct
Notes payable		51,000selected answer correct
Interest payable		1,530selected answer correct
Deferred sales revenue		2,500selected answer correct
Common stock		67,000selected answer correct
Retained earnings		47,040selected answer correct
Sales revenue
Interest revenue
Cost of goods sold
Salaries and wages expense
Rent expense
Depreciation expense
Interest expense
Supplies expense
Insurance expense
Advertising expense
Totals