Answer and Explanation:
The journal entries are shown below:
1. Prepaid insurance ($9,000*30/36) $7,500
To Insurance expense $7,500
(Being prepaid insurance is recorded)
2. Depreciation expense $10,000
To Accumulated depreciation-Equipment $10,000
(Being the depreciation expense is recorded)
3. Salaries expense $12,000
To Salaries payable $12,000
(Being the salaries expense is recorded)
4. Interest expense ($100,000 × 12% × 2 ÷ 12) $2,000
To Interest payable $2,000
(Being the interest expense is recorded)
5. Deferred rent revenue ($3,300 ÷ 3) $1,100
To Rent revenue $1,100
(Being the deferred rent revenue is recorded)
6. Rent revenue $2,200
To Deferred rent revenue $2,200
(Being the rent revenue is recorded)
