Prepare adjusting entries for the following transactions. Omit explanations.
1. Depreciation on equipment is $840 for the accounting period.
2. Interest of $175 is owing on a loan payable.
3. There was no beginning balance of supplies. During the period $400 of office supplies were purchased. At the end of the period $70 of supplies were on hand.
4. Prepaid rent had a $1,000 normal balance prior to adjustment. By year end $300 had expired.
5. Accrued salaries at the end of the period amounted to $900.

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The Answer of Prepare adjusting entries for the following transactions. Omit explanations.
1. Depreciation on equipment is $840 for the accounting period.
2. Interest of $175 is owing on a loan payable.
3. There was no beginning balance of supplies. During the period $400 of office supplies were purchased. At the end of the period $70 of supplies were on hand.
4. Prepaid rent had a $1,000 normal balance prior to adjustment. By year end $300 had expired.
5. Accrued salaries at the end of the period amounted to $900.

Prepare Adjusting Entries for the Following Transactions