Totals\

$351,150_()

\

$351,150

\ Information necessary to prepare the year-end adjusting entries appears below.\ The office equipment was purchased in 2022 and is being depreciated using the straight-line method over a ten-year useful life with no residual value.\ Accrued salaries at year-end should be

$4,500

.\ The company borrowed

$30,000

on September 1,2024 . The principal is due to be repaid in 10 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate of

10%

.\ The company debits supplies when supplies are purchased. Supplies on hand at year-end cost

$500

.\ Prepaid rent expired during the period is

$13,000

.

Information necessary to prepare the year-end adjusting entries appears below. 1. The office equipment was purchased in 2022 and is being depreciated using the straight-line method over a ten-year useful life with n residual value. 2. Accrued salaries at year-end should be $4,500. 3. The company borrowed $30,000 on September 1,2024 . The principal is due to be repaid in 10 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate of 10%. 4. The company debits supplies when supplies are purchased. Supplies on hand at year-end cost $500. 5. Prepaid rent expired during the period is $13,000