problem 3-7A Adjusting entries monthly LO4

D Problem 3-7A Adjusting entries (monthly) LO4 Wedona Energy Consultants prepares adjusting entries monthly Based on an analysis of the unadjusted trial balance at January 31 2020, the following information was available for the preparation of the January 31, 2020, month end adjusting entries. 0. Equipment purchased on November 1 of this accounting period for 514160 is estimated to have a useful life of 2 years. After 2 years of use it is expected that the equipment will be scrapped due to technological obsolescence of the $11300 balance in Unearned Consulting Revenue, 58,600 had been earned c. The Prepaid Rent account showed a balance of $13.200. This was paid on January for this accounting period and represents six months of rent commencing on the same date d. Accrued wages at January 31 totalled 518.400 One month of interest had accrued at the rate of 3% per year on a $40,000 note payable. Unrecorded and uncollected consulting revenues at month-end were 56100, Q. A $3.420 insurance policy was purchased on April of the current accounting period and debited to the Prepaid Insurance account Coverage began April 1 for 18 months h. The monthly depreciation on the office furniture was $620 Repair revenues accrued at month-end totalled $3,300 ). The Store Supplies account had a balance of $790 ot the beginning of January During January, 51770 of supplies were purchased and debited to the Store Supplies account. At month-end a count of the supples revealed a balance of 5640 Assume Wedona Energy uses the straight-ine method to depreciate its assets Required: Prepare adjusting journal entries for the month ended January 31 2020, based on the above sto