Problem 3-2A Preparing adjusting and subsequent journal entries LO C1, A1. P Anez Company's aonual accounting be recorded as of that date g period ends ongHeem31, 2017 T he follwing information concerns the adjusting entries to poits a. The Office Supplies account started the year with a $3,100 balance. Duing 2017 the company purchased supplies for $12,803, ich was added to the Office Supplies account The inventory of supplies available at December 31 2017, totaled $2728 b. An analysis of the compan's insurance policies provided the following facts Konthe ot Apral 1. 2015 24 36 12 $11. 832 10. 584 9. 432 BTApeil 1. 2016 August 1. 2017 Print The total premium for each policy was pa d in full (for all months) at the purchase date, and the Prepaid Insurance account was debited Peterence-or the full cost Year end adjusting entres for Prepaid insurance were ptopely recorded in all prior years) c. The company has 15 employees, who earn a total of $2,600 in salanes each working day They are paid each Monday for their work n the five-day workweek ending on the previous Friday Assume that December 31, 2017, is a Tuesday, and all 15 employees worked the first two days of that week Because New Yeers Dey s a paid holiday they will be paid salaries for five full days on Monday January 6. 2018 d. The company purchased a building on January 1, 2017 lt cost $890,000 and is expected to have a $45,000 salvage value at the end e. Since the company is not large enough to occupy the entire building it owns it rented space to a tenant at $2,300 per month, of its predicted 20-year life. Annual depreciation is $42 250 starting on November 1, 2017 The rent was paid on time on November 1, and the amount received was credited to the Rent Earned account. However, the tenant has not paid the Decembetrent The company has worked out an agreement with the tenant, who has promi sed to pay both December and January rent in full on January 15 The tenant has agreed not to tall behind again f. On November 1, the company rented spece to another tenant for $2.084 per month The tenant paid five months rent in advance on that date The payment was recorded with a crecit to the Unearned Rent account Required: 1. Use the information to prepare adjusting entries os of December 31 201 2. Prepare journal entries to record the first subsequent cash transaction in 2013 for parts c and e Complete this question by entering your answers in the tabs below