Question: Golden Eagle Company prepares monthly financial statements for its bank. The November 30 and December 31 adjusted trial balances include the following account information:
The following information also is known:
a. Purchases of supplies in December total $3,500.
b. No insurance payments are made in December.
c. $10,000 is paid to employees during December for November salaries.
d. On November 1, a tenant pays Golden Eagle $3,000 in advance rent for the period November through January. Unearned Revenue is credited.
Required: Show the adjusting entries that were made for supplies, prepaid insurance, salaries payable, and unearned revenue on December 31.