Rockwell Company faced the follow¬ing situations. Journalize the adjusting entry needed at December 31, 2016, for each situation. Consider each fact separately

Rockwell Company faced the follow¬ing situations. Journalize the adjusting entry needed at December 31, 2016, for each situation. Consider each fact separately.

a .The business has interest expense of $3,300 that it must pay early in January 2017.

b. Interest revenue of $4,500 has been earned but not yet received.

c. On July 1, 2016, when the business collected $13,900 rent in advance, it debited Cash and credited Unearned Rent Revenue. The tenant was paying for two years' rent.

d. Salary expense is $5,500 per day—Monday through Friday—and the business pays em ployees each Friday. This year, December 31 falls on a Thursday.

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Adjusting Entries
DATE	DATE	ACCOUNT TITLES	DEBIT	CREDIT	CREDIT
	a.	Interest Expense	3,300	3,300
		Interest Payable			3,300
	b.	Interest Receivable	4,500	4,500
		Interest Revenue			4,500
	c.	Unearned Rent Revenue ($13,900 / 2 × 6/12)	3,475	3,475
		Rent Revenue			3,475
	d.	Salary Expense ($5,500 × 4)	22,000	22,000
		Salary Payable			22,000
	e.	Supplies Expense	1,200	1,200
		Supplies ($2,800 − $1,600)			1,200
	f.	Depreciation Expense−Equipment ($60,000 / 5)	12,000	12,000
		Accumulated Depreciation−Equipment			12,000

Rockwell Company faced the follow¬ing situations. Journalize the adjusting entry needed at December 31, 2016, for each situation. Consider each fact separately

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