Pastina Company sells various types of pasta to grocery chains as private label brands. The company’s reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below. Credits Debits 31,600 41,000 2,080 61,000 21,000 2,400 6,500 B4,000 31,500 32,000 51,000 Account Title Cash Accounts receivable Supplies Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance office equipment Accumulated depreciation Accounts payable Salaries payable Notes payable Interest payable Deferred sales revenue Common stock Retained earnings Dividends Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Supplies expense Insurance expense Advertising expense Totals 2,500 66,500 31,000 5,000 151,000 @ 75,000 19,400 11,500 1,600 0 3,500 365,500 365,500 Information necessary to prepare the year-end adjusting entries appears below 1. Depreciation on the office equipment for the year is $10,500 2. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $1,400, < Prev 17 of 22 Next >

Check my work Depreciation on the office equipment for the year is $10,500. . Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through 3. On October 1, 2021. Pastina borrowed $81,000 from a local bank and signed a note. The note requires Interest to be paid annually on September 30 at 12%. The principal is due in 10 years 4. On March 1, 2021, the company lent a supplier $21.000 and a note was signed requiring principal and interest at 9% to be paid on 5. On April 1, 2021, the company paid an insurance company $6,500 for a two-year fire insurance policy. The entire $6,500 was debited to prepaid insurance. 6. $900 of supplies remained on hand at December 31, 2021 7. A customer paid Pastina $2,500 in December for 1,530 pounds of spaghetti to be delivered in January 2022. Pastina credited 8. On December 1, 2021, 52,400 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022, at $1.200 per month. The entire amount was debited to prepaid rent. Required: Prepare the necessary December 31, 2021, adjusting journal entries. (If no entry is required for a transaction/event, select “No Journal entry required in the first account field. Do not round intermediate calculations. Rould your final answers to nearest whole dollar amount.) View transaction list Journal entry worksheet < 5 > On April 1, 2021, the company paid $6,500 for a two-year fire insurance policy and debited the entire amount to prepaid insurance Note: Enter debts before credits < Prev 17 of 22 ! Next > MacBook Air

Check my Required: Prepare the necessary December 31, 2021, adjusting journal entries. (If no entry is required for a transaction/event, select “No journal entry required in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) View transaction list Journal entry worksheet > On April 1, 2021, the company paid $6,500 for a two-year fire insurance policy and debited the entire amount to prepaid insurance. Note: Enter debits before credits Transaction 5 Debit Credit General Journal Insurance expense Prepaid insurance Record entry Clear entry View general Journal

Check my wor Required: Prepare the necessary December 31, 2021, adjusting journal entries. (If no entry is required for a transaction/event, select “No Journal entry required in the first account field. Do not round Intermediate calculations. Round your final answers to nearest whole dollar amount.) View transaction list Journal entry worksheet 7 1 Pastina credited deferred sales revenue for $2,500 received in December for spaghetti to be delivered in January 2022 Note: Enter debits before credits Transaction Debit Credit General Journal Sales revenue Deferred sales revenue Record entry Clear entry View general Journal