Refer to CP4-2.
CP4-2
Jordan Company's annual accounting year ends on December 31. It is now December 31, 2012, and all of the 2012 entries have been made except for the following:
a. The company owes interest of $700 on a bank loan. The interest will be paid when the loan is repaid on September 30, 2013. No interest has been recorded.
b. On September 1, 2012, Jordan collected six months' rent of $4,800 on storage space. At that date, Jordan debited Cash and credited Unearned Revenue for $4,800.
c. The company earned service revenue of $3,300 on a special job that was completed December 29, 2012. Collection will be made during January 2013. No entry has been recorded.
d. On November 1, 2012, Jordan paid a one-year premium for property insurance of $4,200, for coverage starting on that date. Cash was credited and Prepaid Insurance was debited for this amount.
e. At December 31, 2012, wages earned by employees but not yet paid totaled $1,100. The employees will be paid on the next payroll date, January 15, 2013.
f. Depreciation of $1,000 must be recognized on a service truck purchased this year.
g. On December 27, 2012, the company received a tax bill of $400 from the city for 2012 property taxes on land. The tax bill is payable during January 2013.
h. The income before any of the adjustments or income taxes was $27,400. The company's income tax rate is 30%. Compute adjusted income based on (a) through (g) to determine and record income tax expense.
Required
Indicate the effects (account, amount, and direction) of each adjusting journal entry. Use + for increase, - for decrease, and NE for no effect. Provide an appropriate account name for any revenue and expense effects.

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Transaction Assets Liabilities Stockholders' Equity NE Interest Payable +700 Interest Expense (+E) -700 etc.