Red Rentals Company faced the following situations. E: (Click the icon to view the situations.) Requirement 1. Journalize the adjusting entry needed at December 31, 2016, for each situation. Consider each fact separately. (Record debits first, then credits. Exclude explanations from any journal entries.) a. The business has interest expense of $3,700 that it must pay early in January 2017 Journal Entry Accounts i Data Table Debit Credit b. Interest revenue of $4,900 has been earned but not yet received. a. The business has interest expense of $3,700 that it must pay early in January 2017 b. Interest revenue of $4,900 has been earned but not yet received. c. On July 1, 2016, when the business collected $13,000 rent in advance, it debited Cash and credited Unearned Rent Revenue. The tenant was paying for two years' rent d. Salary expense is $5,800 per dayMonday through Fridayand the business pays employees each Friday. For the purpose of this calculation, assume December 31 falls on a Thursday. e. The unadjusted balance of the Supplies account is $3,100. The total cost of supplies on hand is $1,400. f. Equipment was purchased on January 1 of this year at a cost of $140,000. The equipment's useful life is five years. There is no residual value. Record depreciation for this year and then determine the equipment's book value. Journal Entry Accounts Debit Credit Print Print Done Done] c. On July 1, 2016, when the business collected $13,000 rent in advance, it debited Cash and credited Unearned Rent Revenue. The tenant was paying for two years' rent. Journal Entry Accounts Debit Credit d. Salary expense is $5,800 per dayMonday through Fridayand the business pays employees each Friday. For the purpose of this calculation, assume December 31 falls on a Thursday. Choose from any list or enter any number in the input fields and then continue to the next question. Red Rentals Company faced the following situations. E: (Click the icon to view the situations.) Requirement 1. Journalize the adjusting entry needed at December 31, 2016, for each situation. Consider each fact separately. (Record debits first, then credits. Exclude explanations from any journal entries.) d. Salary expense is $5,800 per dayMonday through Fridayand the business pays employees each Friday. For the purpose of this calculation, assume December 31 falls on a Thursday. Journal Entry Accounts Debit Credit Data Table e. The unadjusted balance of the Supplies account is $3,100. The total cost of supplies on hand is $1,400. Journal Entry Accounts Debit Credit a. The business has interest expense of $3,700 that it must pay early in January 2017 b. Interest revenue of $4,900 has been earned but not yet received. c. On July 1, 2016, when the business collected $13,000 rent in advance, it debited Cash and credited Unearned Rent Revenue. The tenant was paying for two years' rent. d. Salary expense is $5,800 per day-Monday through Fridayand the business pays employees each Friday. For the purpose of this calculation, assume December 31 falls on a Thursday. e. The unadjusted balance of the Supplies account is $3,100. The total cost of supplies on hand is $1,400. f. Equipment was purchased on January 1 of this year at a cost of $140,000. The equipment's useful life is five years. There is no residual value. Record depreciation for this year and then determine the equipment's book value. Print Done f. Equipment was purchased on January 1 of this year at a cost of $140,000. The equipment's useful life is five years. There is no residual value. Record depreciation for this year and then determine the equipment's book value. Journal Entry Accounts Debit Credit Determine the equipment's book value. The equipment's book value is $ Choose from any list or enter any number in the input fields and then continue to the next