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The following transactions occurred for the Microchip Company.

On October $1,2024,$ Microchip lent $$87,000$ to another company. A note was signed with

principal and $8\%$ interest to be paid on September $30,2025.$

On November $1,2024,$ the company paid its landlord $$8,400$ representing rent for the

months of November through January. Prepaid rent was debited at the time of payment.

On August $1,2024,$ collected $$14,400$ in advance rent from another company that is renting

a portion of Microchip's factory. The $$14,400$ represents one year's rent and the entire

amount was credited to deferred rent revenue at the time cash was received.

Depreciation on office equipment is $$5,300$ for the year.

Vacation pay for the year that had been earned by employees but not paid to them or

recorded is $$8,800.$ The company records vacation pay as salaries expense.

Microchip began the year with $$2,800$ in its asset account, supplies. During the year, $$7,300$

in supplies were purchased and debited to supplies. At year$-$end, supplies costing $$3,650$

remain on hand.

Required:

Prepare the necessary adjusting entries at December $31,2024$ for each of the above situations.

Assume that no financial statements were prepared during the year and no adjusting entries were

recorded.

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