Chapter 7 - Adjusting Entries SOLID FOOTING 93 Problem 7-8 Accrue Rent Payable - Pay Rent the Following Month On September 1, 2021, Baker Construction, Inc. signed a contract to rent a warehouse. Baker's rent on the warehouse started that same day. On September 1, the landlord did not require Baker to pay the first month's rent. The landlord indicated that she would stop-by on October 5 to collect the $2,000 of rent for the month of September. The following is a partial list of the accounts in Baker's General Ledger. These are the only accounts you need for this problem. Cash Rent Payable (liability account) Rent Expense Use the forms on Tab 7-8 in the Excel workbook Chapter 07 c - Problem 7-1 to 7-8 Forms to complete this problem. Requirement 1 Prepare the General Journal entry Baker should make on September 1, 2021. If no entry is required, put "No Entry Required" on the General Journal form. Requirement 2 Prepare the September 30, 2021 Rent Payable adjusting entry. If no entry is required, put "No Entry Required" on the General Journal form. Requirement 3 Prepare the General Journal entry Baker should make on October 5, 2021 to record the $2,000 payment of September's rent. If no entry is required, put "No Entry Required" on the General Journal form. Problem 7-8 Accrue Rent Payable -- Pay Rent the Following Month Requirement 1 -- September 1 entry to record signing the contract Date Account Name Requirement 2 -- September 30 rent payable accrual adjusting entry Date Account Name Requirement 3 -- October 5 payment of September's rent Date Account Name Debit Credit Debit Credit Debit Credit