P5.5. Eunice Hospital's preadjusted trial balance at December 31, 20x1, included the following accounts, among...
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P5.5. Eunice Hospital's preadjusted trial balance at December 31, 20x1, included the following accounts, among others: Acct. No. -O- 80,000 -0- 107 108 109 202 203 204 250 601 604 606 608 Prepaid insurance Prepaid rent Prepaid interest Notes Payable Accrued interest payable Accrued salaries and wages payable Bonds payable Salaries and wages expense Insurance expense Rent expense Interest expense 100,000 399,500 5,760 2,700 4,800 The following additional information is available: 1. A three-year insurance premium was prepaid on January 1, 20X1. 2. One year's rent was paid in advance on June 1, 20X1. 3. On December 1, 20x1, an $80,000, 12 percent, six-month loan was obtained from a local bank; interest was prepaid. 4. Unpaid salaries and wages at December 31, 20x1, amounted to $27,400. 5. On April 1, 20x1, $100,000 of 6 percent, 15-year bonds were issued at face value. Interest on these bonds is payable annually on April 1, beginning April 1, 20X2. Required: Prepare, in general journal form, the necessary adjusting entries at December 31, 20X1
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