Read the description of the following adjustments that are required at the end of the accounting period for River Front Repair. Record the necessary adjusting entries required at the end of January.

A$.$ Prepaid rent for the year on January $1,20$X$1.$ Rent expired during the month of January, $$7,350.$

B$.$ Equipment purchased on January $1,20$X$1,$ for $$12,000$ has an estimated useful life of $8$ years with no salvage value. Depreciation is computed using the straight$-$line method.

C$.$ Purchased supplies for $$770$ on January $1,201.$ Inventory of supplies was $$160$ on January $31,201.$

D$.$ Signed a $12-$month contract for $$5,520$ of prepaid advertising on January $1,201.$

Journal entry worksheet

in

$2$

$3$

$4$

Prepaid rent for the year on January $1,20$X$1.$ Rent expired during the month of January, $$7,350.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[\frac{01}{31},,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

Journal entry worksheet

$1$

$3$

$4$

Equipment purchased on January $1,201,$ for $$12,000$ has an estimated useful life of $8$ years with no salvage value. Depreciation is computed using the straight$-$line method.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[\frac{01}{31},,,],[,,,],[,,,],[,,,],[,,,]]$W

Purchased supplies for $$770$ on January $1,201.$ Inventory of supplies was $$160$ on January $31,201.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[\frac{01}{31},-,,],[$c$.,{?}_{?},,],[,,,],[,,,],[,,,],[,,,]]$

Signed a $12-$month contract for $$5,520$ of prepaid advertising on January $1,201.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[\frac{01}{31},,,],[,,,],[,,,],[,,,],[,,,]]$