The Following Transactions Occurred for D Corp

Essay

The following transactions occurred for D Corp. during 2010.
A) On January 1, D Corp. purchased equipment costing $6,000 by paying $1,000 down and signing a one-year, 12% note for the remainder. The expected salvage value of the equipment is $600 and the equipment has a useful life of 3 years.
B) On March 1, D Corp. received $12,000 for rent on one of the company's buildings for the period March 1, 2010 through April 30, 2011.
C) On April 1, D Corp. loaned $4,000 on a two-year, 8% note receivable to a long-time customer that was having some financial difficulties.
D) On May 1, D Corp. prepaid $4,500 for a three-year insurance policy.
E) On August 1, D Corp. purchased $600 of supplies on account. The Supplies account had a balance on this date of $300. At the end of the year, $250 of supplies remained.
F) On September 1, D Corp. paid $450 for three months of advertising.
G) On October 1, D Corp. signed a one-year cleaning contract with an outside service. D Corp. paid the service $2,400 at this time.
H) On December 31, company employees had earned $2,500 of wages since the last pay period.
Required:
Prepare both the original entry and the appropriate adjusting entry for these transactions on December 31, 2010 (assuming that no other entries related to these transactions were made during the year).