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. Credits Debits 36,200 43,200 3,1ee 63,200 23, 200 2,200 7,600 92,800 34,800 34,200 53,200 Account Title Cash Accounts receivable Supplies Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance Office equipment Accumulated depreciation Accounts payable Salaries payable Notes payable Interest payable Deferred sales revenue Common stock Retained earnings Dividends Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Supplies expense Insurance expense Advertising expense Totals 3,600 80, see 36,5ee 7, 2ee 162,eee 86, eee 20,500 12,600 2,700 4,60e 405, 10e 405, 100 Information necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $11,600. 2. Employee salarles 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. Salarles earned from December 16 through December 31, 2021, were $1,600. 3. On October 1, 2021, Pastina borrowed $53,200 from a local bank and signed a note. The note requires Interest to be pald annually on September 30 at 12%. The principal is due in 10 years. 4. On March 1, 2021, the company lent a supplier $23,200 and a note was signed requiring principal and interest at 9% to be pald on February 28, 2022 5. On April 1, 2021, the company paid an Insurance company $7,600 for a one-year fire Insurance policy. The entire $7,600 was debited to prepald Insurance. 6. $700 of supplies remained on hand at December 31, 2021. 7. A customer paid Pastina $1,400 in December for 1,596 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue. 8. On December 1, 2021, $2,200 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022, at $1,100 per month. The entire amount was debited to prepaid rent. Journal entry worksheet Depreciation on the office equipment for the year is $11,500. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal View transaction list Journal entry worksheet Salaries earned from December 16 through December 31, 2021 were $1,600 and will be paid on January 7, 2022. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal View transaction list Journal entry worksheet On October 1, 2021, Pastina signed a $53,200 note that requires interest to paid annually on September 30 at 12% and will have principal due in 10 years. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Record entry Clear entry View general journal View transaction list Journal entry worksheet On April 1, 2021, the company paid $7,600 for a one-year fire insurance policy and debited the entire amount to prepaid insurance. Note: Enter debits before credits. Transaction General Journal Debit Credit 5 Record entry Clear entry View general journal to nearest whole dollar amount.) View transaction list Journal entry worksheet Supplies on hand at December 31, 2021 were $700. Note: Enter debits before credits. General Journal Debit Credit Transaction 6 Record entry Clear entry View general journal Prepare the necessary December 31, 2021, adjusting Journal entries. (If no entry is required for a tran "No journal entry required" in the first account field. Do not round Intermediate calculations. Roun to nearest whole dollar amount.) View transaction list Journal entry worksheet
