Below is an adjusted trial balance $($partial$)$ for Lazer Tag Inc. as of December $31.$

Adjusted Trial Balance $($Partial$)$

December $31$

Acct. No$.$ Account Debit Credit

$104$ Accounts receivable $$120,000$ $

$106$ Supplies $27,000$

$108$ Prepaid insurance $22,800$

$160$ Deferred revenue $19,800$

$202$ Salaries payable $24,000$

$208$ Interest payable $6,000$

$400$ Sales revenue $2,400,000$

$405$ Event revenue $59,400$

$502$ Salaries expense $600,000$

$510$ Supplies expense $21,000$

$515$ Insurance expense $12,960$

$520$ Interest expense $6,000$

Additional information

a$.$ During the year, a corporate client paid a $12-$month event fee of $$79,200$ cash for one planned event per month at Lazer Tag to be applied over $12$ months.

b$.$ Supplies available on December $31$ of last year were $$18,000.$

c$.$ A two$-$year insurance policy was purchased on September $1.$ The policy was paid in full on September $1.$ Premiums had increased from the prior policy which was signed the previous September $1.$

Answer the following questions.

$1.$ If interest expense relates to six months of interest expense on a $10\%$ note payable, what is the amount of the note payable?

$Answer $1$

$2.$ What was the adjusting journal entry to accrue unpaid, but incurred salaries, on December $31?$

General Journal

Account Name Dr$.$ Cr$.$

Answer $2$

Answer $3$

Answer $4$

Answer $5$

Answer $6$

Answer $7$

$3.$ How many months remain in the $12-$month corporate client contract?

Answer $8$

months

$4.$ What amount of supplies was purchased during the year?

$Answer $9$

$5.$ What was the price of the two$-$year insurance policy signed on September $1?$

$Answer $10$

$6.$ By how much did the current policy's monthly premium increase over the prior policy's monthly premium?

$Answer $11$