*Problem C-07

The following information relates to Steven Anderson, Property Manager, at the close of the fiscal year ending December 31:

1.Steven paid a storage locker facility $335 for next January's rent on a locker and charged it to Rent Expense.

2.On November 1, Steven signed a three-month, 11% note to borrow $13,560 from Yorkville Bank.3.The following salaries and wages are due and unpaid at December 31: sales, $1,495; office clerks, $1,100.4.Interest of $590 has accrued to date on a note that Steven holds from Grant Muldaur.5.The estimated loss on bad debts for the period is $1,405.6.Stamps and stationery are charged to the Office Expense account when purchased; $145 of these supplies remain on hand.7.Steven has not yet paid the December rent of $1,410 on the building his business uses.8.Insurance was paid on November 1 for one year and charged to Prepaid Insurance, $1,020.9.Property tax accrued, $1,710.10.On December 1, Steven accepted Alana Zipursky's two-month, 15% note in settlement of her $5,520 account receivable.11.On October 31, Steven received $2,580 from Tareq Giza in payment of six months' rent for Giza's office space in the building and credited Unearned Rent Revenue.12.On September 1, Steven paid six months' rent in advance on a warehouse, $8,385, and debited the asset account Prepaid Rent.13.The bill from Light & Power Limited for December has been received but not yet entered or paid, $465. (Use Utilities Payable.)14.The estimated depreciation on equipment is $1,460.