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Show Attempt History Current Attempt in Progress Question Accounting Crane Company has the following information available for accruals for the year ended December 31, 2020. The company adjusts its accounts annually Question Accounting 1. Viewing 0 3 Accounting MU 2 Question 4 Accounting 3. The December utility bill for $455 was unrecorded on December 31. Crane paid the bill on January 11. Crane is open 7 days a week and employees are paid a total of $5,250 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 Crane signed a 548,000, 5% bank loan on November 1, 2020, due in 2 years. No interest payments were made in 2020 Interest for 2020 was paid on January 1, 2021 Crane receives a fee from Pizza Shop next door for all pizzas sold to customers using Crane's facility. The amount owed for December is $290, which Pizza Shop will pay on January 4. (Hint: Use the Service Revenue account.) Crane rented some of its unused warehouse space to a client for $6,000 a month, payable the first day of the following month. It received the rent for the month of December on January 2 Question 5 Accounting Muit 4. 5 Question 6 Murple Choice Question 7 Multiple Choice (To record service account) Dec. 31 6000 6000 (To record rent account) Salaries and Wages Payable (To record accrued salaries and wages) Dec 31 Interest Expense 400 Interest Payable (To record interest used) Dec 31 Accounts Receivable 290 Service Revenue (To record service account) Dec. 31 6000 Rent Expense Rent Revenue Prepaid Rent Uned Rent Revenue eTextbook and Media List of Accounts Type here to search O RI DII 94 16 $ % & 7 2 r. 3 4 5 O 6 1 7 V 8 Q W E R Y I U u 4) :o - S F ] vo D[ S Gj J HI

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