Read each of the following transactions for Gallagher Enterprises. Determine the accounts and amounts to be debited and credited in the necessary end-of-january adjustments.

a. On January 1, 2019, Gallagher Enterprises, a new firm, paid $7,320 rent in advance for a three-month period. The $7,320 was debited to the Prepaid Rent account. 

b. On January 1, 2019, the firm bought supplies for $4,100. The $4,100 was debited to the Supplies account. An inventory of supplies at the end of January showed that supplies costing $1,550 were on hand. 

c. On January 1, 2019, the firm bought equipment costing $14,400. The equipment has an expected useful life of 10 years and a salvage value. The firm will use the straight-line method of depreciation.

It asked for what is credited and debited for each letter and how much of each.