Transaction Analysis and Adjustments Selected accounts of Ideal Properties Inc., a real estate management firm, are shown below as of January 31, before any adjustments have be Account Prepaid insurance Unadjusted Balances $79,920 Supplies 23,160 Office equipment 71,424 Unearned rent revenue 63,000 Salaries expense Rent revenue 37,200 180,000 Monthly financial statements are prepared. Using the Transaction Analysis Template, determine the financial statement effect of the following adjustments as of January 31: a. Prepaid Insurance represents a three-year premium paid on January 1. b. Supplies of $10,200 were on hand January 31. c. Office equipment is expected to last eight years. Depreciation is recorded monthly. d. On January 1, the firm collected six months' rent in advance from a tenant renting space for $10,500 per month. e. Accrued salaries not recorded as of January 31 are $5,880. Note: Use negative signs with answers, when appropriate. Balance Sheet Income Statement Stockholders' Transaction Assets = Liabilities + Equity Revenues Expenses = Net Income a. Adjustment for prepaid insurance. 0 0 b. Adjustment for supplies 0 0 c. Adjustment for office equipment. 0 0 d. Adjustment for rent collected in advance. 0 0 e. Adjustment for accrued salaries. 0 0 OOOOO 0 0 0 0 0 ooooo 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0