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1 2 Skysong, Inc. has the following information available for accruals for the year ended December 31, 2022. The company adjusts its accounts annually. The December utility bill for $376 was unrecorded on December 31. Skysong paid the bill on January 11. Skysong is open 7 days a week and employees are paid a total of $3,080 every Monday for a 7-day (Monday-Sunday) workweek. December 31 is a Thursday, so employees will have worked 4 days (Monday, December 28-Thursday, December 31) that they have not been paid for by year-end. Employees will be paid next on January 4. Skysong signed a $39,600,5% bank loan on November 1, 2021, due in 2 years. Interest is payable on the first day of each following month. (For example, interest incurred during November would be paid on December 1.) Skysong receives a fee from Pizza Shop next door for all pizzas sold to customers using Skysong's facility. The amount owed for December is $264, which Pizza Shop will pay on January 4. (Hint: Use the Service Revenue account.) Skysong rented some of its unused warehouse space to a client for $5,280 a month, payable the first day of the following month. It received the rent payment for the month of December on January 2. 3 5. For each situation, prepare the adjusting entry required at December 31. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credi 1 Dec 31, 2022 2 Dec 31, 2022 For each situation, prepare the adjusting entry required at December 31. (Round answers to decimal places, es 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Credi Dec. 31, 2022 No. Debit 1. 2 Dec 31, 2022 3 Dec 31, 2022 Dec 31, 2022 5. Dec 31, 2022 For each situation, prepare the journal entry to record the subsequent cash transaction in 2023. (Round answers to decimal places, es. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credi 1. Jan. 11, 2023 2 Jan. 4, 2023 3. Jan. 1, 2023 4 Jan 4, 2023 5. Jan 2, 2023

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