The trial balance of Dallas Company shows the following balances, among others, on December
31, 2003, the end of its first fiscal year:
|
Rent Revenue |
$36,800 |
|
Office Supplies Expense |
2,700 |
|
Mortgage Payable . |
130,000 |
Inspection of the company s records reveals that:
1. Rent revenue of $2,800 is unearned at December 31, 2003.
2. Interest of $7,800 on the mortgage is payable semiannually on March 1 and September 1.
3. Office supplies of $500 are on hand on December 31. When purchases of office supplies were made during the year, they were charged to the office supplies expense account. Given this information, prepare journal entries to adjust the books as of December 31, 2003. Completing the