The data for the month$-$end adjustments of Silber Insurance Agency at January $31,2023,$ follow:

$($Click the icon to view the adjustments.$)$

Required

The unadjusted balances have been entered for you in the trial balance columns of the worksheet. Complete the worksheet of Silber Insurance Agency for the month ended January $31,2023.$

Using the worksheet data, journalize and post the adjusting and closing entries, including explanations. The opening balances of each account have been provided. Use dates and posting references. Use page $7$ as the number of the journal page.

Adjustment Data

Adjustment data for month$-$end adjustments:

a$.$ Commission revenue received in advance that had not been earned at January $31,$$$42,000.$

b$.$ Rent still prepaid at January $31,$$$2,300.($Hint: Calculate the amount of the rent that was used up$.)$

c$.$ Supplies used during the month, $$2,600.$

d$.$ Amortization on furniture for the month, $$3,000.$

e$.$ Amortization on building for the month, $$2,900.$

f$.$ Accrued salaries expense at January $31$ in the amount of $$3,900.$

Requirement $1.$ The unadjusted balances have been entered for you in the trial balance columns of the worksheet. Complete the worksheet of Siber Insurance Agency for the month ended January $31,2023.$ amort. $=$ Accumulated amortization; Amort. $=$ Amortization.$)$

Silber Insurance Agency

Worksheet

For the Month Ended January $31,2023$

$\backslash$table$[[$Account$,$Trial Balance,Adjustments,Adjusted Trial Balance$],[$Debit$,$Credit,Debit,Credit,Debit,Credit$],[$Cash$,144,000,,=,,,],[$Accounts receivable,$87,000,,,,,],[$Prepaid rent,$9,100,,,,,],[$Supplies$,5,600,,,,,],[$Furniture$,150,000,,,6,,],[$Accum amort$-$furniture,,$86,000,-,,,],[$Building$,459,000,,,,,],[$Accum$.$ amort$-$building,,$169,000,,,,],[$Land$,96,000,,,,,],[$Accounts payable,,$25,440,,,,],[$Salaries payable,,$0),,=,,],[$Unearned commission revenue,,$63,000,,,,],[$C$.$ Silber, capital,,$442,560,,,,],[$C$.$ Silber, withdrawals,$34,000||,,,,,]]$

Screenshot

$2023-11-14$

$141519$

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$2024-02-06$

$110134$

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$2024-02-06$

$113626$

Commission revenue

Salaries expense

Rent expense

Utilities expense

Amort expense $-$ furniture

Amort. expense $-$ building

Advertising expense

Supplies expense

Total