Prepare adjusting journal entries at year end, December 31, 2011, based on the following supplemental information.

a. The equipment has a useful life of 18 years with no salvage value. (Straight-line method )

b. Interest accrued on the Notes payable is $15,000 as of 12/31/12.

c. The insurance policy was prepaid on July 1 and expired during the next 6 months.

d. The rent payment of $120,000 is for the six months from Nov. 30, 2011 through May 31, 2012.

e. Salaries and wages earned but unpaid at 12/31/11 are $22,000.

f. The supplies inventory on January 1 was $4,000. Supplies costing $16,000 were acquired during the year and charged to the supplies inventory. A count on December 31 indicated supplies on hand of $8,000.

g. On April 30, a ten-month, 9% note for $30,000 was received from a customer.

h. On March 1, $90,000 was collected in advance as rent for one year.

Selected amounts from Trent Company's trial balance before any adjustments) of 12/31/11 appear below: Credit Account Name 1. Cash Debit 150,000 150,000 2. Accounts Receivable 3. Interest Receivable 4. Supplies 20,000 5. Prepaid Rent 120,000 80,000 6. Prepaid Insurance 7. Notes Receivable 30,000 720,000 200,000 8. Equipment 9. Accumulated-Depreciation Equipment 10. Accounts Payable 11. Unearned Rental Revenue 12. Notes Payable (due 6/1/12) 160,000 90,000 200,000 13. Common Stock 14. Retained Earnings 15. Rental Revenue 60,000 130,000 200000 16. Insurance Expense 30,000 10,000 328,000 17. Interest Expense 18. Salaries and Wages Expense 19. Depreciation Expense 20. Supplies Expense