a$)$ Cox's Bazar Beach Motel adjusts and closes its accounts once a year on December $31.$ Most guests of the

motel pay at the time they check out and the amounts collected are credited to 'rental revenue'. A few

guests pay in advance for rooms and these amounts are credited to 'unearned rental revenue' at the time

of receipt. The following information is available as a source for preparing adjusting entries at December

$31,2023.($i$)$ A one year bank loan in the amount of $$80,000$ has been obtained on November $1.$ No interest has been

paid and no interest expense has been recorded. The interest accrued at December $31$ is $$1,600.$

$($ii$)$ On December $16,$ a suite of rooms was rented to a corporation for $6$ months at a monthly rental of

$$3,200.$ The entire $6$ months' rent of $$19,200$ was collected in advance and credited to unearned rental

revenue. At December $31,$ the amount of $$1,600$ representing one$-$half month's rent was considered to

be earned and the remainder of $$17,600$ was considered to be unearned.

$($iii$)$ As of December $31,$ the motel has earned $$18,090$ rental revenue from current guests who will not be

billed until they are ready to check out.

$($iv$)$ Salaries earned by employees at December $31,$ but not yet paid to $$11,640.$

$($v$)$ Depreciation on the motel for the year was $$51,250.$

$($vi$)$ Depreciation on the station wagon owned by the motel was based on a $4-$year life. The station wagon

was purchased on September $1$ of this current year at a cost of $$12,600.$ Depreciation for four months

should be recorded at December $31.$

$($vii$)$ On December $31,$ Cox's Bazar beach motel entered into an agreement to host the national shooter

society's convention in June of next year. The motel expects to earn rental revenue of at least $$30,000$

from the convention.

Required:

For each of the numbered paragraphs, draft separate adjusting entries if required. One or more of the above

paragraphs may not require any adjusting entry.