Research Associates, owned by Alex Raman, is retained by large companies to test consumer reaction to new products. On January 31, 20X1, the firms worksheet showed the following adjustments data: (a) supplies used, $2,340; (b) expired rent, $13,000; and (c) depreciation on office equipment, $4,580. The balances of the revenue and expense accounts listed in the Income Statement section of the worksheet and the drawing account listed in the Balance Sheet section of the worksheet are given below:

REVENUE AND EXPENSE ACCOUNTS
401	Fees income	$	109,800	Cr.
511	Depr. expenseOffice equipment		4,580	Dr.
514	Rent expense		13,000	Dr.
517	Salaries expense		49,500	Dr.
520	Supplies expense		2,340	Dr.
523	Telephone expense		1,350	Dr.
526	Travel expense		10,390	Dr.
529	Utilities expense		1,250	Dr.

DRAWING ACCOUNT
302	Alex Raman, Drawing	11,000	Dr.

Required:

1. Record the adjusting entries in the general journal (transactions 1-3).
2. Record the closing entries in the general journal (transactions 4-7).

Required: 1. Record the adjusting entries in the general journal (transactions 1-3). 2. Record the closing entries in the general journal (transactions 4-7). View transaction list Journal entry worksheet 1 2 3 4 5 6 7 Record the adjusting entry for supplies. Note: Enter debits before credits. General Journal Debit Credit Date Jan 31, 20X1 Record entry Clear entry View general journal