Using the balances in the T$-$accounts $($update as needed from Part A results$)$ and the information given, calculate and

record the adjusting journal entries for January $31$ in the journal.

Jan PROJECT #$1-$ PART B

$31$ A $$1,320$ invoice$/$bill arrived for utility services used in January. Payment is due Feb $15.$

$31$ Supplies on hand on Jan $31$ are counted and determined to have cost $$330.$

$31$ As of Jan $31,$ MBC had completed $60\%$ of the services for the customer who paid in advance on Jan $20.$

$31$ As of Jan $31,$ MBC owed one month of interest on the loan from Jan $3.$

$31$ The oven purchased on Jan $4$ has been in use for one month. The life is $8$ years and method is based on life.

$31$ Salaries were earned by employees for the second half of the month $($Jan $16-31)$ and will be paid Feb $3.$

$31$ Prepaid rent and insurance were both used for January.