Question $($b$)$

Assuming that the books have been closed, what are the adjusting entries necessary at December $31,2026?($Ignore income tax considerations$)$ A partial trial balance of Sandhill Corporation is as follows on December $31,2026.$

Additional adjusting data:

A physical count of supplies on hand on December $31,2026,$ totaled $$1,000.$

Through oversight, the Salaries and Wages Payable account was not changed during $2026.$ Accrued salaries and wages on

December $31,2026,$ amounted to $$4,200.$

The Interest Receivable account was also left unchanged during $2026.$ Accrued interest on investments amounts to $$4,100$

on December $31,2026.$

The unexpired portions of the insurance policies totaled $$63,700$ as of December $31,2026.$

$$30,000$ was received on January $1,2026,$ for the rent of a building for both $2026$ and $2027.$ The entire amount was credited

to Rent Revenue.

Depreciation on equipment for the year was erroneously recorded as $$5,300$ rather than the correct figure of $$53,000.$

A further review of depreciation calculations of prior years revealed that equipment depreciation of $$7,100$ was not

recorded. It was decided that this oversight should be corrected by a prior period adjustment.