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Required information Problem 2-4 (Algo) Accounting cycle; adjusting entries through post-closing trial balance [LO2-4, 2-6, 2-7, 2.8] (The following information applies to the questions displayed below] Pastina Company sells various types of pasta to grocery chains as private labet brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below. Intormation necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $10,800 2. Employese salaries are paid twice a month, on the 22 nd for salarles earned from the 1 st through the 15 th, and on the 7 th of the following month for salaries eamed from the 16 th thirough the end of the month. Salaries earned from December If through December 31,2021 , were $1,150. 3. On October 1,2021, Pastina borrowed $51,600 from a local bank and signed a note. The note requires interest to be peid annually on September 30 at 12%. The principal is due in 10 years. 4. On March 1, 2021, the company lent a supplier $21,600 and a note was signed requiring principal and interest at 8 s.s to. be paid on February 28,2022 5. On April 1, 202t, the company paid an insurance company $7,600 for a one-year fire insurance policy. The entire $7,600 was debted to prepold insurance. 6. 5710 of supplies remained on hand at December 31,2021 . 7. A customer paid Pastina $2,800 in December for 1,150 pounds of spaghett to be delivered in lanuary 2022 . Pastins credited deferred sales revenue. 8. On December 1, 2021, 51,700 rent was paid to the owner of the buliding. The payment represented rent for December. 2021 and January 2022 at 5850 per morth. The entire amount was debited to prepaid rent. Problem 2-4 (Algo) Part 5 5. Prepare closing entries, (if no entry is required for a particular transectien, seinct "No journat entry requirea" in the first account fleld. Do not round intermediate calculotions. Pound your final answers to nearest whale dollar) 5. Prepare closing entries. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Journal entry worksheet Record the entry to close the dividends account. Metes futer debats bedire credAts. 5. Prepare closing entries. (If no entry is required for a particulor transaction, select "No journal entry required" in the first account field. Do not round intermediote colculotions. Round your final answers to nearest whole dolloz.) Journal entry worksheet Record the entry to close the expense accounts: tutec Enter debits belore aredita. Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits

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