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A partial trial balance of Buffalo Corporation is as follows on December 31, 2021.

		Dr.		Cr.
Supplies		$2,900
Salaries and wages payable				$1,500
Interest Receivable		4,900
Prepaid Insurance		93,200
Unearned Rent				0
Interest Payable				15,300

Additional adjusting data:

1.		A physical count of supplies on hand on December 31, 2021, totaled $1,200.
2.		Through oversight, the Salaries and Wages Payable account was not changed during 2021. Accrued salaries and wages on December 31, 2021, amounted to $4,400.
3.		The Interest Receivable account was also left unchanged during 2021. Accrued interest on investments amounts to $4,000 on December 31, 2021.
4.		The unexpired portions of the insurance policies totaled $63,400 as of December 31, 2021.
5.		$28,100 was received on January 1, 2021, for the rent of a building for both 2021 and 2022. The entire amount was credited to rent revenue.
6.		Depreciation on equipment for the year was erroneously recorded as $5,400 rather than the correct figure of $54,000.
7.		A further review of depreciation calculations of prior years revealed that equipment depreciation of $6,400 was not recorded. It was decided that this oversight should be corrected by a prior period adjustment.

(a)

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Your answer is correct.

Assuming that the books have not been closed, what are the adjusting entries necessary at December 31, 2021? (Ignore income tax considerations.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

No.	Account Titles and Explanation	Debit	Credit
1.	supplies expense	1700
	supplies		1700
2.	Salaries and wages expense	2900
	Salaries and wages payable		2900
3.	Interest Revenue	900
	Interest Receivable		900
4.	Insurance Expense	29800
	Prepaid Insurance		29800
5.	Rent Revenue	14050
	Unearned Rent Revenue		14050
6.	Depreciation Expense	48600
	Accumulated Depreciation-Equipment		48600
7.	Retained Earnings	6400
	Accumulated Deprecation-Equipment		6400

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(b)

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Your answer is partially correct.

Assuming that the books have been closed, what are the adjusting entries necessary at December 31, 2021? (Ignore income tax considerations.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

No.	Account Titles and Explanation	Debit	Credit
1.	Enter an account title	Enter a debit amount	Enter a credit amount
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6.	Enter an account title	Enter a debit amount	Enter a credit amount
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7.	Enter an account title	Enter a debit amount	Enter a credit amount
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