Answer:
Journal Entry
a) Debit Insurance Expense $275 Credit Prepaid Insurance $275
b) Debit Supplies expense $amount Credit Supplies Account $amount
c) Debit Depreciation $330 Credit Accumulated Depreciation on office equipment $330
d) Debit Salaries expense $325 Credit Salaries payable $325
e) Debit Rent Expense $1,600 Credit Prepaid Rent $1,600
f) Debit Bank $3,210 Credit Unearned fees $3,210
Explanation:
The Question is incomplete but I will show how the typical entry of these adjustment are carried out.
b) The supplies on hand is an Asset account and have already been recorded when they were purchased. The adjustment is there to show that on the purchased Supplies before month end, actual supplies expense ( used supplies) is the difference between purchased supplies and the on hand supplies (unused supplies) at the end of the month.
The Journal entries are the entries that are recorded in the books of accounts in order to maintain the transactions of the company. All the transactions whether it be cash or credit are recorded in the books of accounts and are maintained to avoid chaos in the time of the payments of the dues or the outstanding.
The Journal entries have been attached below.
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