Prepare adjusting entries for the following transactions.

1. Depreciation on equipment is $1,340 for the accounting period.

2. Interest owed on a loan but not paid or recorded is $275.

3. There was no beginning balance of supplies and $550 of office supplies were purchased during the period. At the end of the period $100 of supplies were on hand.

4. Prepaid rent had a $1,000 normal balance prior to adjustment. By year end $700 had expired.

5. Accrued salaries at the end of the period amounted to $900.