UUS RULUIVUI to Terrect amounts due but not yet billed.) LO3, 4 E3-2A. Adjusting Entries Selected accounts of Ideal Properties Inc., a real estate management firm shown below as of January 31, before any adjusting entries have been made: Credit Debit $6,840 2,100 6,240 Prepaid insurance .... Supplies . . . . . ... Office equipment ...... Unearned rent revenue.. Salaries expense . . . . . . . . Rent revenue ........ $ 5,400 3,250 16,000 Monthly financial statements are prepared. Using the following information, record in a general journal the adjusting entries necessary on January 31: a. Prepaid Insurance represents a three-year premium paid on January 1. b. Supplies of $975 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 $925 per month e. Accrued salaries not recorded as of January 31 are $510