The data below concerns adjustments to be made at Coffee Bean Importers.

Adjustments

a$.$ On November $1,20$X$1,$ the firm signed a lease for a warehouse and paid rent of $$20,700$ in advance for a six$-$month period.

b$.$ On December $31,20$X$1,$ an inventory of supplies showed that items costing $$1,940$ were on hand. The balance of the Supplies

account was $$11,620.$

c$.$ A depreciation schedule for the firm's equipment shows that a total of $$9,200$ should be charged off as depreciation in $201.$

d$.$ On December $31,20$X$1,$ the firm owed salaries of $$5,400$ that will not be paid until January $202.$

e$.$ On December $31,20$X$1,$ the firm owed the employer's social security $(6\mathrm{.}2$ percent$)$ and Medicare $(1\mathrm{.}45$ percent$)$ taxes on all

accrued salaries.

f$.$ On September $1,20$X$1,$ the firm received a five$-$month, $6$ percent note for $$5,500$ from a customer with an overdue balance.

Required:

Record the adjusting entries in the general journal as of December $31,201.$

Record reversing entries in the general journal as of January $1,20$X$2.$

Analyze:

After the adjusting entries have been posted, what is the balance of the Prepaid Rent account on January $1,20\backslash$times $2?$

Complete this question by entering your answers in the tabs below;

Record adjusting entries in the general journal as of December $31,20$X$1$ and reversing entries as of January $1,20$X$2.$

Note: Round your answers to $2$ decimal places.