4. Value 10.00 points Elana's Traveling Veterinary Services, Inc., completed its first year of operations on December 31. All of the years entries have been recorded except for the following a. On March 1 of the current year, the company borrowed $61,320 at a 10 percent interest rate to be repaid in five years. b. On the last day of the current year, the company received a $470 utility bill for utilities used in December. The bil will be paid in January of next year. Required: 1. What is the annual reporting period for this company? Annual reporting 2. Prepare the required adjusting entry for transactions (a) and (b). (If no entry is required for a transaction/event, sele View transaction list Journal entry worksheet