Using the above preadjusted trial balance, record the following adjusting entries. The data needed to determine the year-end adjustments are as follows and you can abbreviate the title. Record 3 months accrued interest income on the bond investment Prepaid Insurance expired during the year is $2, 600. The asset Prepaid Insurance was paid on Jan. 1, 2016. A physical inventory of office Supplies on December 31 showed $450 on hand. The above trial balance has a balance of $1, 950 so it must be reduced. Accrued unpaid salaries and wages for the last three days at December 31 are $1, 800. Supreme Co. received $3,000 for three months rent in advance on November 1, 2016. A liability account Rent Received in Advance for $3,000 was created for the advance payment so this amount has to be reduced to $1,000 and the credit is to Rent Revenue On December 31, there was prepaid advertising for an advertisement that will be on January 20, 2010 of $2,000. The amount was previously Advertising expense. The asset account, Prepaid Advertising has to be debited. On December 31, the Board of Directors declared a $1.00 per share cash dividend on the issued Common Stock. The entry is recorded as a debit to Retained Earnings