Problem 3-5 Prepare the adjusting entries for the following independent cases. Every case uses one month accounting period (January). Explanations are not required. 1. On January 1, 2019, Ronald Company borrowed $40,000 and issued a 12%, long-term note payable, which requires interest to be paid on the first of every month. Prepare the adjusting entry on January 31, 2019. On January 1, 2019, Mary Company received rental fee of $8.400 from Sper for 12 months and credited to Unearned Rent Revenue. Prenare the adjusting on January 31, 2019 to record the revenue earned. On January 1, 2019, supplies on hand amounted to $200. During January, supplies that cost $4.000 were purchased and debited to supplies account. At the end of January, a physical inventory count revealed that supplies on hand amounted to $200. Prepare the adjusting entry on January 31, 2019. On January 1, 2019, Marble Company paid $4,800 for 15 months of insurance coverage. Marble Company adjusts the accounts monthly. Prepare the necessary adjusting entry for Marble Company on January 31, 2019. 5. On January 1, 2019, Nok Company gave a loan to the company president and received a 6%, $30,000, 1 year, note receivable. Prepare the adjusting entry on January 31, 2019, to record the accrued interest on the note. 6. Gimji Company purchased a delivery truck at a cost of $90,000 on January 1, 2019. The truck is expected to have no salvage value at the end of its 6-year useful life. Prepare the adjusting entry for depreciation of the delivery truck on January 31, 2019, by using the double-declining balance method. 7. Goldy Company uses units-of-activity method in computing depreciation on its truck. The truck is expected to be driven 100,000 miles. The truck was purchased on January 1, 2019. at a cost S101.000 and is expected to have a salvage value of S10,000. The truck was dri 4,500 miles in January, 2019. Prepare the adjusting entry for depreciation on January 31, 2019 Hongkok Company purchased delivery equipment at a cost of $60,000 on December 1 2019. The equipment is expected to have no salvage value at the end of its 8-year useful life. Prepare the adjusting entry for depreciation of the delivery equipment on January 31, 2020, by using the straight line method. Debit Credit Date Account title