Cardon's Boat Yard Inc. repairs, stores, and cleans boats for customers. It is completing the accounting process for the year just ended on November 30, 2018. The transactions during 2018 have
been journalized and posted. The following data with respect to adjusting entries are available:
a. Cardon's winterized (cleaned and covered) three boats for customers at the end of November, but did not prepare the bill of $2,700 for the service it provided until December.
b. On October 1, 2018, Cardon's paid $1,200 to the local newspaper for an advertisement to run every Thursday for 12 weeks. All ads have been run except for three Thursdays in December to complete the 12-week contract
c. On April 1, 2018, Cardon's borrowed $300,000 at an annual interest rate of 4 percent to expand its boat storage facility. The loan requires Cardon's to pay the interest quarterly until the note is repaid in three years. Cardon's paid quarterly interest on July 1 and October 1, 2018.
d. The Kwan family paid Cardon's $4,500 on November 1, 2018, to store its sailboat for the winter until May 1, 2019. Cardon's credited the full amount to deferred storage revenue on November 1.
e. Cardon's used boat-lifting equipment that cost $220,000; the estimated depreciation for fiscal year 2018 is $22,000.
f. Boat repair supplies on hand at December 1, 2017, totaled $16,500. Repair supplies purchased and debited to supplies inventory during the year amounted to $46,000. The year-end inventory count showed $12,400 of the supplies remaining on hand.
g. Wages earned by employees during November 2018, unpaid and unrecorded at November 30, 2018, amounted to $3,800. The next payroll date will be December 5, 2018.

Required:
1. Identify each of these transactions as a deferred revenue, a deferred expense, an accrued revenue, or an accrued expense.
2. Using the process illustrated in the chapter, prepare for each situation the adjusting entry that should be recorded for Cardon's at November 30, 2018.