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Prepare the journal entries Dec 31 Accrued salary expense, $1,400 Accounted for expiration of prepaid rent, $1,000 Depreciation of equipment, $20,000 Inventory shrinkage of $100

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Dec 31 Accrued salary expense, $1,400 Accounted for expiration of prepaid rent, $1,000 Depreciation of equipment, $20,000 Inventory shrinkage of $100 A customer ordered and paid $3000 for a postal device on Dec 15. We shipped the device today. The device costs $1500

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