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Demello & Associates records adjusting entries on an annual basis. The company has the following information available on accruals that must be recorded for the year ended December 31, 2021: 1 2. 3. Demello has a $13,200,6% note receivable with a customer. The customer pays the interest on a monthly basis on the first of the month. Assume the customer pays the correct amount each month. Demello pays its employees a total of $6.200 every second Wednesday. Employees work a five-day week, Monday to Friday, and are paid for all statutory holidays. December 31, 2021. is a Friday. Employees were paid on Wednesday, December 29, 2021, up to the Friday of the prior week. Demello has a contract with a customer where it provides services prior to billing the customer. On December 31, 2021, this customer owed Demello $3,330. Demello billed the customer on January 7 2022, and collected the full amount on January 18, 2022 Demello received the $515 December utility bill on January 10, 2022. The bill was paid on its due date, January 22, 2022. Demello has a $25,200,6% note payable. Interest is paid every six months, on October 31 and April 30. Assume that Demello made the correct interest payment on April 30, 2021, and October 31, 2021 4. 5. Prepare the adjusting journal entries required on December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to the nearest whole dollar, eg. 5,275.) No. Date Account Titles and Explanation Debit Credit 1. Dec. 31 Dec. 2. 31 3. Dec. 31 4. Dec. 31 5. Dec. 31 Prepare the journal entries to record the related cash transactions in 2022. Assume all payments and receipts are made as indicated. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to the nearest whole dollar, e.g. 5,275. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Jan. 12 Apr. 30

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