Consider the following items for Wolverine Properties during $2026.$

$1.$ On December $1,2026,$ Wolverine received $\backslash (\backslash$$ $3,700\backslash )$ cash from a company renting office space from Wolverine. The payment, representing rent for December and January, was recorded in Deferred Revenue on December $1.$ Revenue for other rentals totaled $\backslash (\backslash$$ $129,000\backslash ).$

$2.$ Wolverine purchases a $1-$year property insurance policy on July $1,2026,$ for $\backslash (\backslash$$ $12,840\backslash ).$ The payment was recorded in Prepaid Insurance for the entire amount on July $1.$ Wolverine had $\backslash (\backslash$$ $6,200\backslash )$ in insurance costs for the first $6$ months of the year.

$3.$ Employee salaries of $\backslash (\backslash$$ $2,700\backslash )$ for the month of December will be paid in early January $2027.$ Salaries paid for the first $11$ months of the year total $\backslash (\backslash$$ $46,000\backslash ).$

$4.$ On November $1,2026,$ the company borrowed $\backslash (\backslash$$ $13,500\backslash )$ from a bank. The loan requires principal and interest at $\backslash (10\backslash \%\backslash )$ to be paid on October $30,2027.$

$5.$ Office supplies at the beginning of $2026$ totaled $\backslash (\backslash$$ $970\backslash ).$ On August $15,$ Wolverine purchased an additional $\backslash (\backslash$$ $3,100\backslash )$ of office supplies, recorded to the Supplies account. By the end of the year, $\backslash (\backslash$$ $470\backslash )$ of office supplies remains.

Required:

For each item, determine the accounts to be adjusted on December $31,2026,$ the amount of the adjustment; and the ending balance. Assume no adjustments were previously made during the year.

Note: Amounts to be deducted should be indicated with a minus sign.

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|\}$

$\backslash$hline & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$Account$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{1.\}\backslash \backslash$

$\backslash$hline & Deferred Revenue & Rent Revenue $\backslash \backslash$

$\backslash$hline Balance before adjustment & & $\backslash \backslash$

$\backslash$hline December $31$ Adjustment & & $\backslash \backslash$

$\backslash$hline December $31$ Ending balance & $\backslash$$ $0$ & $\backslash$$ $0\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{2.\}\backslash \backslash$

$\backslash$hline & Prepaid Insurance & Insurance Expense $\backslash \backslash$

$\backslash$hline Balance before adjustment & & $\backslash \backslash$

$\backslash$hline December $31$ Adjustment & & $\backslash \backslash$

$\backslash$hline December $31$ Ending balance & $\backslash$$ $0$ & $\backslash$$ $0\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{3.\}\backslash \backslash$

$\backslash$hline & Salaries Payable & Salaries Expense $\backslash \backslash$

$\backslash$hline Balance before adjustment & $\backslash$$ $0$ & $\backslash \backslash$

$\backslash$hline December $31$ Adjustment & & $\backslash \backslash$

$\backslash$hline December $31$ Ending balance & $\backslash$$ $0$ & $\backslash$$ $0\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{4.\}\backslash \backslash$

$\backslash$hline & Interest Payable & Interest Expense $\backslash \backslash$

$\backslash$hline Balance before adjustment & $\backslash$$ $0$ & $\backslash$$ $0\backslash \backslash$

$\backslash$hline December $31$ Adjustment & & $\backslash \backslash$

$\backslash$hline December $31$ Ending balance & $\backslash$$ $0$ & $\backslash$$ $0\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{5.\}\backslash \backslash$

$\backslash$hline & Supplies & Supplies Expense $\backslash \backslash$

$\backslash$hline Balance before adjustment & & $\backslash$$ $0\backslash \backslash$

$\backslash$hline December $31$ Adjustment & & $\backslash \backslash$

$\backslash$hline December $31$ Ending balance & $\backslash$$ $0$ & $\backslash$$ $0\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$