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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.
Information necessary to prepare the year-end adjusting entries appears below.

Depreciation on the office equipment for the year is $11,200.
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 $1,350.
On October 1, 2021, Pastina borrowed $52,400 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.
On March 1, 2021, the company lent a supplier $22,400 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022.
On April 1, 2021, the company paid an insurance company $8,400 for a one-year fire insurance policy. The entire $8,400 was debited to prepaid insurance.
$830 of supplies remained on hand at December 31, 2021.
A customer paid Pastina $3,200 in December for 1,350 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue.
On December 1, 2021, $2,200 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $1,100 per month. The entire amount was debited to prepaid rent.

1. & 2. Post the unadjusted balances and adjusting entires into the appropriate t-accounts. (Enter the number of the adjusting entry in the column next to the amount. Do not round intermediate calculations. Round your final answers to nearest whole dollar.)

Pastina Company sells various types of pasta to grocery chains as private label brands The companys reporting yearend is December 31 The unadjusted trial balanc class=
Pastina Company sells various types of pasta to grocery chains as private label brands The companys reporting yearend is December 31 The unadjusted trial balanc class=
Pastina Company sells various types of pasta to grocery chains as private label brands The companys reporting yearend is December 31 The unadjusted trial balanc class=
Pastina Company sells various types of pasta to grocery chains as private label brands The companys reporting yearend is December 31 The unadjusted trial balanc class=
Pastina Company sells various types of pasta to grocery chains as private label brands The companys reporting yearend is December 31 The unadjusted trial balanc class=

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The unadjusted balances and adjusting entries are posted into the appropriate t-accounts of Pastina Company on December 31, 2021 as shown below.

T-Ledger accounts:

1. Debit Depreciation Expense $11,200

Credit Accumulated Depreciation on Office Equipment $11,200

2. Debit Salaries Expense $1,350

Credit Salaries Payable $1,350

3. Debit Interest Expense $1,572

Credit Interest Payable $1,572 ($52,400 x 12% x 3/12)

4. Debit Interest Receivable $1,493

Credit Interest Income $1,493 ($22,400 x 8% x 10/12)

5. Debit Insurance Expense $6,300

Credit Prepaid Insurance $6,300 ($8,400 x 9/12)

6. Debit Supplies Expense $1,470

Credit Supplies $1,470 ($2,300 - $830)

7. No adjustment required

8. Debit Rent Expense $1,100

Credit Prepaid Rent $1,100

Data and Analysis:

1. Depreciation Expense $11,200 Accumulated Depreciation on Office Equipment $11,200

2. Salaries Expense $1,350 Salaries Payable $1,350

3. Interest Expense $1,572 Interest Payable $1,572 ($52,400 x 12% x 3/12)

4. Interest Receivable $1,493 Interest Income $1,493 ($22,400 x 8% x 10/12)

5. Insurance Expense $6,300 Prepaid Insurance $6,300 ($8,400 x 9/12)

6. Supplies Expense $1,470 Supplies $1,470 ($2,300 - $830)

7. No adjustment required

8. Rent Expense $1,100 Prepaid Rent $1,100

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