The following data were obtained from an analysis of the accounts of Noble Distributor Company as of March 31, 2011, in preparation of the annual report. Noble records current transactions in nominal accounts. What are the appropriate adjusting entries?

(a) Prepaid Insurance has a balance of $14,100. Noble has the following policies in force:

(b) Unearned Subscription Revenue has a balance of $56,250. The following subscriptions were collected in the current year. There are no other unexpired subscriptions.

(c) Interest Payable has a balance of $825. Noble owes a 10%, 90-day note for $45,000 dated March 1, 2011.
(d) Supplies has a balance of $2,190. An inventory of supplies revealed a total of $1,410.
(e) Salaries Payable has a balance of $9,750. The payroll for the 5-day workweek ended April 3 totaled$11,250.

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Policy Date Term Cost Coverage 2 years 6 months $3,600 1,800 12,000 Shop equipment Delivery equipment Buildings 12/1/10 3 years Effective Date Amount Term $27,000 22,200 28,800 20,700 I year I year I year I year July 1, 2010 October I. 2010 January , 2011 April I, 2011