Read the description of the following adjustments that are required at the end of the accounting period for Paulo Consulting Services. Record the necessary journal entries required at the end of January. (Round your answers to the nearest whole dollar.) A. Equipment was purchased on January 1, 20x1, for $21,000 and has an estimated useful life of 8 years with a salvage value of 3,720. Depreciation is computed using the straight-line method, B. Signed a 5-month contract for $4,860 of prepaid advertising on January 1, 20X1. C. Prepaid rent for the year on January 1, 20x1, in the amount of 23,200. D. Purchased supplies for $4,000 on January 1, 20X1. Inventory of supplies was $3,400 on January 31, 20X1. View transaction list Journal entry worksheet 1 2 3 4 Equipment was purchased on January 1, 20x1, for $21,000 and has an estimated useful life of 8 years with a salvage value of 3,720. Depreciation is computed using the straight-line method. Note: Enter debits before credits Date Goneral Journal Debit Credit 01/31 22 B. Signed $4,860 of prepaid advertising on January 1, 20X1. C. Prepaid rent for the year on January 1, 20X1, in the amount of 23,200. D. Purchased supplies for $4,000 on January 1, 20X1. Inventory of supplies was $3,400 on January 31, 20X1. View transaction list 03:12:13 Journal entry worksheet 2 3 4 Signed a 5- month contract for $4,860 of prepaid advertising on January 1, 20X1. Note: Enter debits before credits Date General Journal Debit Credit 01/31 Record entry Clear entry View general Journal Test #2 (Ch. 5-8) 6 Saved He 22 Depreciation is computed using the straight-line method. B. Signed a 5-month contract for $4,860 of prepaid advertising on January 1, 20X1. C. Prepaid rent for the year on January 1, 20x1, in the amount of 23,200. D. Purchased supplies for $4,000 on January 1, 20X1. Inventory of supplies was $3,400 on January 31, 20X1. View transaction list 8 03:12:02 Journal entry worksheet