5. Salaries of $330 were unpaid at August 31 . 6. Rental fees of $835...
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5. Salaries of $330 were unpaid at August 31 . 6. Rental fees of $835 were due from tenants at August 31. Use Accounts Receivable. 7. The note payable interest rate is 8% per year, and the note has been outstanding since December 1,2022 . No principal repayments are due. Interest is paid twice per year (on June 1 and December 1 ). Journallze the adjusting entrles on August 31 for the three-month perlod from June 1 to August 31. (List all debit entries before The trial balance for Sunland Limited on August 31 is as follows: Additional information: 1. The balance in Prepaid Insurance includes the cost of four months' premiums for an insurance policy that will expire on September 30, 2023. 2. An inventory count on August 31 shows $660 of supplies on hand. 3. Buildings and equipment are depreciated straight-line. From the date of purchase, the buildings have an estimated useful life of 25 years, and the equipment has an estimated useful life of 10 years. For both asset categories, residual value is estimated to be 10% of cost. 4. (i) Rent revenue includes amounts received for September rentals in the amount of $8,500. (ii) Of the unadjusted Unearned Rent Revenue of $4,300, one half was earned prior to August 31
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5. Salaries of $330 were unpaid at August 31 . 6. Rental fees of $835 were due from tenants at August 31. Use Accounts Receivable. 7. The note payable interest rate is 8% per year, and the note has been outstanding since December 1,2022 . No principal repayments are due. Interest is paid twice per year (on June 1 and December 1 ). Journallze the adjusting entrles on August 31 for the three-month perlod from June 1 to August 31. (List all debit entries before The trial balance for Sunland Limited on August 31 is as follows: Additional information: 1. The balance in Prepaid Insurance includes the cost of four months' premiums for an insurance policy that will expire on September 30, 2023. 2. An inventory count on August 31 shows $660 of supplies on hand. 3. Buildings and equipment are depreciated straight-line. From the date of purchase, the buildings have an estimated useful life of 25 years, and the equipment has an estimated useful life of 10 years. For both asset categories, residual value is estimated to be 10% of cost. 4. (i) Rent revenue includes amounts received for September rentals in the amount of $8,500. (ii) Of the unadjusted Unearned Rent Revenue of $4,300, one half was earned prior to August 31
