Required [The following information applies to the questions displayed below.] Dittman's Variety Store is completing the accounting process for the year just ended, December 31, 2014. The transactions during 2014 have been journalized and posted. The following data with respect to adjusting entries are available: a. Wages earned by employees during December 2014, unpaid and unrecorded at December 31, 2014, amounted to $4,200. The last payroll was December 28; the next payroll will be January 6, 2015. b. Office supplies on hand at January 1, 2014, totaled $470. Office supplies purchased and debited to Office Supplies during the year amounted to $540. The year-end count showed $230 of supplies on hand. c. One-fourth of the basement space is rented to Heald's Specialty Shop for $560 per month, payable monthly. On December 31, 2014, the rent for November and December 2014 had not been collected or recorded. Collection is expected January 10, 2015. d. The store used delivery equipment that cost $67,000; $12,200 was the estimated depreciation for 2014. e. On July 1, 2014, a two-year insurance premium amounting to $3,120 was paid in cash and debited in full to Prepaid Insurance. Coverage began on July 1, 2014. f. The remaining basement of the store is rented for $2,100 per month to another merchant, M. Carlos, Inc. Carlos sells compatible, but not competitive, merchandise. On November 1, 2014, the store collected six months' rent in the amount of $12,600 in advance from Carlos; it was credited in full to Unearned Rent Revenue when collected. g. Dittman's Variety Store operates a repair shop to meet its own needs. The shop also does repairs for M. Carlos. At the end of December 31, 2014, Carlos had not paid $780 for completed repairs. This amount has not yet been recorded as Repair Shop Revenue. Collection is expected during January 2015. .Y. 1 Vat. Starn at 2. Prepare the adjusting entries that should be recorded for Dittman's Variety Store at December 31, 2014. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet - 2 3 4 5 6 7 Wages earned by employees during December 2014, unpaid and unrecorded at December 31, 2014, amounted to $4,200. The last payroll was December 28; the next payroll will be January 6, 2015. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 2. Prepare the adjusting entries that should be recorded for Dittman's Variety Store at December 31, 2014. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 3 4 5 6 7 Office supplies on hand at January 1, 2014, totaled $470. Office supplies purchased and debited to Office Supplies during the year amounted to $540. The year-end count showed $230 of supplies on hand. Note: Enter debits before credits. Transaction b. General Journal Debit Credit Record entry Clear entry View general journal transaction list Journal entry worksheet < 1 2 4 5 6 7 One-fourth of the basement space is rented to Heald's Specialty Shop for $560 per month, payable monthly. On December 31, 2014, the rent for November and December 2014 had not been collected or recorded. Collection is expected January 10, 2015. Note: Enter debits before credits. Transaction C. General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 5 6 7 The store used delivery equipment that cost $67,000; $12,200 was the estimated depreciation for 2014. Note: Enter debits before credits. Transaction d. General Journal Debit Credit Record entry Clear entry View.generaliournal. Journal entry worksheet < 1 2 3 4 6 7 On July 1, 2014, a two-year insurance premium amounting to $3,120 was paid in cash and debited in full to Prepaid Insurance. Coverage began on July 1, 2014. Note: Enter debits before credits. Transaction. General Journal Debit Credit Record entry Clear entry View general journal > 0 t Journal entry worksheet nces < 1 2 3 4 5 6 7 The remaining basement of the store is rented for $2,100 per month to another merchant, M. Carlos, Inc. Carlos sells compatible, but not competitive, merchandise. On November 1, 2014, the store collected six months' rent in the amount of $12,600 in advance from Carlos; it was redited in full to Unearned Rent Revenue when collected. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet < 1 2 3 4 5 6 Dittman's Variety Store operates a repair shop to meet its own needs. The shop also does repairs for M. Carlos. At the end of December 31, 2014, Carlos had not paid $780 for completed repairs. This amount has not yet been recorded as Repair Shop Revenue. Collection is expected during January 2015. Note: Enter debits before credits. Transaction g. General Journal Debit Credit Record entry Clear entry View general journal