The unadjusted trial balance for sierra corp. is shown below.

sierra corporation trial balance october 31, 2017
debit credit
cash $15,200
supplies 2,500 `
prepaid insurance 600
equipment 5,000
notes payable $5,000
accounts payable 2,500
unearned service revenue 1,200
common stock 10,000
retained earnings 0
dividends 500
service revenue 10,000
salaries and wages expense 4,000
rent expense 900
$28,700 $28,700
assume the following adjustment data.

1. supplies on hand at october 31 total $500.
2. expired insurance for the month is $100.
3. depreciation for the month is $75
4. as of october 31, services worth 4\$800 related to the previously recorded unearned revenue had been performed.
5. services performed but unbilled and no receivables have been recorded at october 31 are $280.
6. interest expense accrued at october 31 is $70.
7. accrued salaries at october 31 are $1,400

prepare the adjusting entries for the items above.

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Verizon communications, inc., provides the following footnote relating to its leasing activities in its 10-k report. the aggregate minimum rental commitments under noncancelable leases for the periods shown at december 31, 2010, are as follows: years (dollars in millions) capital leases operatingleases 2011 $97 $1,898 2012 74 1,720 2013 70 1,471 2014 54 1,255 2015 42 1,012 thereafter 81 5,277 total minimum 418 $ 12,633 rental commitments less interest and (86) executory costs present value of 332 minimum lease payments less current (75) installments long-term obligation $257 at december 31, 2010 (a) confirm that verizon capitalized its capital leases using a rate of 7.4 %. (b) compute the present value of verizon's operating leases, assuming an 7.4% discount rate and rounding the remaining lease term to 3 decimal places. (use a financial calculator or excel to compute. do not round until your final answers. round each answer to the nearest whole number.)