Rainmaker Environmental Consultants is just finishing its second year of operations. The company's unadjusted trial balance at October 31, 2020, follows:

RAINMAKER ENVIRONMENTAL CONSULTANTS

Unadjusted Trial Balance

October 31, 2020Acct.No.AccountDebitCredit101Cash$26,100106Accounts receivable62,000109Interest receivable0111Notes receivable51,000126Supplies5,400128Prepaid insurance3,570131Prepaid rent27,300161Office furniture87,000162Accumulated depreciation, office furniture$29,000201Accounts payable18,100210Wages payable0233Unearned consulting revenue26,200301Jeff Moore, capital228,060302Jeff Moore, withdrawals28,100401Consulting revenue233,020409Interest income490601Depreciation expense, office furniture0622Wages expense193,000637Insurance expense0640Rent expense44,500650Supplies expense6,900Totals$534,870$534,870

Rainmaker prepares adjustments each October 31. The following additional information is available on October 31, 2020.

1. It was determined that $12,100 of the unearned consulting revenue had not yet been earned.
2. It was discovered that $14,100 of the balance in the Consulting Revenue account was for services to be performed in November.
3. The balance in the Prepaid Rent account represents three months of rent beginning September 1, 2020.
4. Accrued wages at October 31 totalled $6,900.
5. The office furniture was purchased on March 1, 2019, and has an estimated useful life of two years. After two years of use, it is expected that the furniture will be worthless.
6. Accrued consulting revenue at year-end totalled $4,300.
7. Interest of $86 had accrued on the note receivable for the month of October.
8. The balance in the Prepaid Insurance account represents the remaining balance of a two-year policy purchased on April 1, 2019.
9. A count of the supplies on October 31 revealed a balance remaining of $630.

Assume Rainmaker Environmental uses the straight-line method to depreciate its assets.

Required:

Prepare the annual adjusting journal entries for October 31, 2020, based on the above.(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

• 1
• Record the earned consulting revenue.
• 2
• Record the Unearned consulting revenue, which was incorrectly recorded earlier as earned.
• 3
• Record the expired prepaid rent.
• 4
• Record the accrued wages.
• 5
• Record the depreciation expense.
• 6
• Record the accrued revenue.
• 7
• Record the accrued interest revenue.
• 8
• Record the expired prepaid insurance.
• 9
• Record the use of supplies.