014 Prepare the necessary adjusting entries at December 31, 2013, for the Microchip Company for each of the following situations. Assume that adjusting entries were recorded. no financial statements were prepared during the year and no 1. On October 1, 2013, Microchip lent $96,000 to another company. A note was signed with principal and 7% interest to be paid on September 30, 2014. November through January. Prepaid rent was debited. portion of Microchip's factory. The $17,100 represents one year's rent and the entire amount was 2. On November 1, 2013, the company paid its landlord $11,100 representing rent for the months of 3. On August 1, 2013, collected $17,100 in advance rent from another company that is rentinga credited to rent revenue. 4. Depreciation on machinery is $6,200 for the year. 5. Vacation pay for the year that had been earned by employees but not paid to them or recorded is $9,700. Microchip began the year with $3,700 in its asset account, supplies. During the year, $8,200 in supplies were purchased and debited to supplies. At year-end, supplies costing $4,100 remain on hand. 6. General Journal Debit Credit 1. 2. 4. 5. O o r Supples