The information presented below is for Averrett Marketing, Inc.
a. Rent of $56,500 was credited to an unearned revenue account when received. Of this amount, $24,750 is still unearned at year end.
b. Interest revenue of $4,500 from a $65,000 note has been earned but not collected or recorded.
c. Salaries for the period December 26, 2003, to December 31, 2003, amounted to $11,500 and have not been recorded or paid. (Ignore payroll taxes.)
d. Interest of $8,000 is payable for September 2003 through December 2003 on a 12%, $200,000 loan and has not been recorded.
e. The expired portion of an insurance policy is $2,150. Prepaid Insurance was originally debited.
f. Rent of $18,000 was paid for six months in advance on November 15, 2003, and debited to
Prepaid Rent. Prepare the adjusting entries that should be made on December 31, 2003. (Omit explanations.)