Selected accounts of Portage Properties, a real estate management ?rm, are shown below as of January 31,

before any accounts have been adjusted.

Debit Credit

Prepaid insurance...................... $3,240

Supplies ............................... 1,540

Office equipment....................... 6,240

Unearned rent revenue ............... $5,550

Salaries expense ....................... 2,325

Rent revenue .......................... 13,250

Portage Properties prepares monthly ?nancial statements. Using the following information, adjust the

accounts as necessary on January 31 using the ?nancial statement effects template.

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

b. Supplies of $710 were still available on January 31.

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

d. Earlier this month, on January 1, Portage collected $5,550 for six months rent in advance from a

tenant renting space for $925 per month.

e. Salaries of $490 have been earned by employees but not yet recorded as of January 31