Exercise 4-15 (Algorithmic) Adjusting Journal Entries

The following selected accounts were taken from the general ledger of the Oval Enterprises on September 30 before adjusting entries have been made. Oval makes adjusting entries quarterly.

	Debit	Credit
Supplies	4,000
Prepaid Rent	5,400
Building	100,000
Notes Receivable	25,000
Accumulated Depreciation		20,000
Unearned Revenue		8,500

Additional Information:

1. Rent expires at a rate of $800 per month.
2. Supplies on hand total $1,600.
3. Utilities incurred in September but not yet recorded or paid are $480.
4. The building depreciates at a rate of $2,100 per quarter.
5. $6,100ofthe$8,500unearnedrevenuehasbeenearnedduringthequarter.
6. Interestof$220onthenotesreceivablehasbeenearnedbutnotyetrecorded.

Prepare the necessary adjusting journal entries at September 30. Do not round intermediate calculations.

1.
2.
3.
4.
5.
6.