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Adjusting Entries Selected accounts of ideal Properties Inc., a real estate management firm, are shown below as of January 31, before any adjusting entries have been made Debit Credit Prepaid surance 57.200 Supplies 2.100 Omce equipment 7680 und ent 5.600 Salaries Support 3250 evenue 16.000 Monthly financial statements are prepared. Using the following information record in a general journal the adjusting entries necessary on January 31: a. Prepaid Insurance represents a three year premium paid on January 1, b. Supplies of 1975 were on and aruary 31 comice equipment is expected to last eight years. Depreciation is recorded monthly d. On January 1, the firm collected six month rent in advance from a tenant renting space for 25 per month 6. Accrued salaries not recorded as of January 31 are 5625 Round your answer to the nearest dollar, as needed. General Journal Description Cradle 05 Bails 0 To recordury insurance expense . 0 O To record january suples expert Business Course Return to course 3! My Subscrip 3,250 expense Rent revenue 16.000 Monthly financial statements are prepared. Using the following information, record in a general journal the adjusting entries necessary on January 31: a. Prepaid Insurance represents a three-year premium paid on January 1. b. Supplies of $975 were on hand January 31. c. Office equipment is expected to last eight years. Depreciation is recorded monthly d. On January 1, the firm collected six months' rent in advance from a tenant renting space for $925 per month. e. Accrued salaries not recorded as of January 31 are $625. Round your answer to the nearest dollar, as needed. General Journal Description Debit Date a. jan 31 Credit 5 05 0 To record January Insurance expense. b. Jan 31 0 0 0 0 2 To record January supplies expense c. Jan 31 0 0 0 0 To record January depreciation on office equipment d. 31 0 0 o 0 To record portion of advance renteamed in January e. jan. 31 0 0 0 0 To record accrued salaries at January 31