Use this information pertaining to the Alvino Corporation to answer the following question. 1 . The corporation's Store Supplies account showed a beginning debit balance of $200 and supplies purchased of $800 . There were $300 of supplies on hand at year end. 2 . Depreciation on a building is estimated to be $5,000. 3 . A one-year insurance policy was purchased for $2,000 . Three months have
passed since the purchase. 4 . Accrued interest on a note receivable amounted to $100. 5 . The company received a $3,600 advance payment during the year on services to be performed. By the end of the year, one-fourth of the services had been performed. The adjusting entry for depreciation on the building is
a. Depreciation Expense - Building 5,000
Accumulated Depreciation - Building 5,000
b. Accumulated Depreciation - Building 5,000
Depreciation Expense - Building 5,000
c. Building 5,000
Depreciation Expense - Building 5,000
d. Accumulated Depreciation - Building 5,000
Building 5,000
A
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