Problem 4-4 Recurring and Adjusting Entries are Butler Realty Corporation's accounts, identified by number. The company has Following LO5 the number(s) of the account(s) to be debited and credited. the list of accounts is a series of transactions entered into by Butler. For cach transaction, enter Accounts 1. Cash 2. Accounts Receivable 3. Prepaid Rent 4 Office Supplies 5. Automobiles 6. Accumulated Depreciation 7. Land 8. Accounts Payable 9. Salaries and Wages Payable 10. Income Tax Payable 11. Notes Payable 12. Capital Stock, $10 por 13. Paid-in Capital in Excess of Par 14. Commissions Revenue 15. Office Supply Expense 16. Rent Expense 17. Salaries and Wages Expense 18. Depreciation Expense 19. Interest Expense 20. Income Tax Expense Transaction Debit Credit 12 13 a. Example: Issued additional shares of stock to owners at amount in excess of par b. Purchased automobiles for cash. c. Purchased land; made cash down payment and signed a promissory note for the balance d. Paid cash to landlord for rent for next 12 months. e Purchased office supplies on account. t. Collected cash for commissions from clients for properties sold during the month. g. Collected cash for commissions from clients for properties sold the prior month h. During the month, sold properties for which cash for commissions will be collected from clients next month. 1. Paid for office supplies purchased on account in an earlier month Recorded an adjustment to recognize wages and salaries incurred but not yet paid. k. Recorded an adjustment for office supplies used during the month. Recorded an adjusting entry for the portion of prepaid rent that expired during the month m Made required month-end payment on note taken out in (c): payment is part principal and part interest. n. Recorded adjusting entry for monthly depreciation on the autos 0. Recorded adjusting entry for income taxes