Since the company is not large enough to occupy the entire building it owns, it rented space to a
tenant at $2,500 per month, starting on November 1, 2011. The rent was paid on time on November
1, and the amount received was credited to the Rent Earned account. However, the tenant has not
paid the December rent. The company has worked out an agreement with the tenant, who has
promised to pay both December and January rent in full on January 15. The tenant has agreed not to
fall behind again.
On November 1, the company rented space to another tenant for $2,265 per month. The tenant paid
five months' rent in advance on that date. The payment was recorded with a credit to the Unearned
Use the information to prepare adjusting entries as of December 31, 2011.
(Do not round
intermediate calculations. Round your final answers to the nearest whole dollar amount. Omit
the "$" sign in your response.)
Adjusting entries (all dated December 31, 2011).
Office supplies expense