The unadjusted trial balance for NetSolutions in Exhibit 3 indicates Unearned Rent of $360. In addition, Exhibit 3 indicates that NetSolutions has prepaid assets consisting of Supplies of $2,000 and Prepaid Insurance of $2,400. Each of these deferrals requires an adjusting entry.

NetSolutions Unadjusted Trial Balance December 31, 2017 Account Debit Credit No. Balances Balances Cash . ....... 11 2,065 Accounts Receivable. . .. . . 12 2,220 Supplies . . ..... . . .. . . . . 14 2,000 Prepaid Insurance ... . . . . 15 2,400 Land......... . 17 20,000 Office Equipment . .. . 18 1,800 Accounts Payable . . . . . . . . . . 21 900 Unearned Rent ... . . . . . ... 23 Common Stock ...... 360 . . . . 31 25,000 Dividends . ... . .. 33 4,000 Fees Earned .... . . 41 16,340 Wages Expense . ... . 51 4,275 Supplies Expense ... . . . . 52 800 Rent Expense . . . . . . 53 1,600 Utilities Expense. . . . 54 985 Miscellaneous Expense . .. . . . .. 59 455 42,600 42,600