Question

clark rentals company faced the following situations. view the situations. requirement 1. journalize the adjusting entry needed at december 31, 2023, for each situation. consider each fact separately. (record explanations from any journal entries.) c. on july 1, 2023, when the business collected $12,000 rent in advance, it debited cash and credited unearned rent revenue. accounts debit credit c. unearned rent revenue 3,000 rent revenue 3,000 d. salary expense is $6,500 per day—monday through friday—and the business pays employees each friday. this year, d accounts debit credit d. salary expense 26,000 salary payable 26,000 e. the unadjusted balance of the supplies account is $3,300. the total cost of supplies on hand is $1,100. accounts debit credit e.

Explanation:

Step1: Calculate supplies used

The supplies used is the difference between the unadjusted balance of supplies and the supplies on - hand. So, Supplies used = $3300 - 1100=2200$.

Step2: Determine adjusting entry

We need to decrease the Supplies account (credit) and record the Supplies Expense (debit) for the amount of supplies used.

Answer:

Accounts	Debit	Credit
Supplies		2200