Selected accounts of Portage Properties, a real estate management firm, are shown below as of January $31,$ before any accounts have been adjusted. All accounts have normal balances.

Prepaid insurance $$32,400$ Unearned rent revenue $$55,500$

Supplies $15,400$ Salaries expense $23,250$

Office equipment $62,400$ Rent revenue $132,500$

Portage Properties prepares monthly financial statements. Using the following information, adjust the accounts as necessary on January $31$ using the financial statement effects template.

a$.$ Prepaid insurance represents a two$-$year premium paid on January $1.$

b$.$ Supplies of $$7,100$ were still available on January $31.$

c$.$ Office equipment is expected to last eight years $($or $96$ months$).$

d$.$ On January $1,$ Portage collected $$55,500$ for six months' rent in advance from a tenant renting space for $$9,250$ per month.

e$.$ Salaries of $$4,900$ have been earned by employees but not yet recorded as of January $31.$

Note: Use negative signs with answers when appropriate.

Note: If an answer field is not needed, leave it blank $($not all answer fields will be used$).$

BALANCE SHEET INCOME STATEMENT

Cash Noncash Contributed Earned Net

Transaction Asset Assets Liabilities Capital Capital Revenues Expenses Income

a$.$ Adjust prepaid insurance Answer $1$

$0$

Answer $2$

$(1,350)$

Answer $3$

$0$

Answer $4$

$0$

Answer $5$

$0$

Answer $6$

$0$

Answer $7$

$1,350$

Answer $8$

$(1,350)$

Answer $9$

N$/$A

Answer $10$

Prepd Ins

Answer $11$

N$/$A

Answer $12$

N$/$A

Answer $13$

N$/$A

Answer $14$

N$/$A

Answer $15$

Ins Exp

b$.$ Adjust supplies expense Answer $16$

$0$

Answer $17$

$(8,300)$

Answer $18$

$0$

Answer $19$

$0$

Answer $20$

$0$

Answer $21$

$0$

Answer $22$

$8,300$

Answer $23$

$(8,300)$

Answer $24$

N$/$A

Answer $25$

Supplies

Answer $26$

N$/$A

Answer $27$

N$/$A

Answer $28$

N$/$A

Answer $29$

N$/$A

Answer $30$

Supply Exp

c$.$ Record depreciation Answer $31$

$0$

Answer $32$

$(650)$

Answer $33$

$0$

Answer $34$

$0$

Answer $35$

$0$

Answer $36$

$0$

Answer $37$

$650$

Answer $38$

$(650)$

Answer $39$

N$/$A

Answer $40$

Equipment

Answer $41$

N$/$A

Answer $42$

N$/$A

Answer $43$

N$/$A

Answer $44$

N$/$A

Answer $45$

Depr Exp

d$.$ Adjust unearned rent revenue Answer $46$

$0$

Answer $47$

$0$

Answer $48$

$(9,250)$

Answer $49$

$0$

Answer $50$

$0$

Answer $51$

$9,250$

Answer $52$

$0$

Answer $53$

$9,250$

Answer $54$

N$/$A

Answer $55$

N$/$A

Answer $56$

Unearn Rev

Answer $57$

N$/$A

Answer $58$

N$/$A

Answer $59$

Rent Rev

Answer $60$

N$/$A

e$.$ Accrue salaries Answer $61$

$0$

Answer $62$

$0$

Answer $63$

$4,900$

Answer $64$

$0$

Answer $65$

$0$

Answer $66$

$0$

Answer $67$

$4,900$

Answer $68$

$(4,900)$

Answer $69$

N$/$A

Answer $70$

N$/$A

Answer $71$

Salary Pay

Answer $72$

N$/$A

Answer $73$

N$/$A

Answer $74$

N$/$A

Answer $75$

Salary Exp