Jenkins Rentals Company faced the following situations. Journalize the adjusting entry needed at December 31, 2020, for each situation. Consider each fact separately.

a. The business has interest expense of $3,100 that it must pay early in January 2021.

b. Interest revenue of $4,400 has been earned but not yet received.

c. On July 1, 2020, when the business collected $14,200 rent in advance, it debited Cash and credited Unearned Rent Revenue. The tenant was paying for two years’ rent.

d. Salary expense is $5,700 per day—Monday through Friday—and the business pays employees each Friday. This year, December 31 falls on a Thursday.

e. The unadjusted balance of the Supplies account is $3,100. The total cost of supplies on hand is $1,200.

f. Equipment was purchased on January 1 of this year at a cost of $140,000. The equipment’s useful life is five years. There is no residual value. Record depreciation for this year and then determine the equipment’s book value.