I have a list of accounts in the unadjusted Trial Balance. I have to prepare the adjusting journal entries assuming they are prepared annually. I AM NOT SURE ON ENTRIES The list is as follows:Cash /Accounts receivable/ Merchandise Inventory/ Supplies /Land /Building/ Accumulated depreciation-building Equipment /Accumulated depreciation-equipment/ Accounts payable/ Unearned sales revenue/ Mortgage payable/ B.Lance, capital// B.Lance, drawings/ Sales Sales returns and allowances/ Sales discounts/ Cost of goods sold/ Interest expense/ Salaries expense /Utilities expense
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1) THERE IS $750 OF SUPPLIES ON HAND AT DECEMBER 31,2011
2) ACCRUED INTEREST EXPENSE AT DECEMBER 31, 2011, IS $1,0000
3)DEPRECIATION EXPENSE FOR THE YEAR IS $6,000 FOR THE BUILDING AND $4,500 FOR THE EQUIPMENT.

For 1) I thought that I would debit Supplies but not sure what account to credit, as there is no interest payable account?
3) I thought I would debit Interest expense but not sure what to credit as there is not an Interest payable account. So is the interest on accounts payable?

I would be so grateful for feed-back... thanks!

1. Debit Supplies Expense for the amount of supplies used (calculated by subtracting $750 actual onhand balance from your Supplies account balance)
Credit Supplies for the difference in your supplies account and $750 actual balance

2. Debit Depreciation Expense for the total amount of depreciation
Credit Accumulated Depreciation - Building for $6,000
Credit Accumulated Depreciation - Equipment for $4,500