B D E F 1 2 Meng Systems had the following situations during the current year. 3 4 Prepare the necessary adjusting entries for Meng Systems at the end of its December 31, 2023 fiscal year-end for each of the following situations. No adjusting entries were recorded during the year. 5 Note: Use 12 months per year for all interest calculations 6 7 8 9 10 1. On April 10 of the current year, Meng Systems lent funds to another company. The details of the note follow: Note dated Principal Interest rate 11 12 April 10, 2023 $80,000 8% Principal and interest due April 9, 2024 Number of months' interest to accrue 13 14 Date General Journal Debit Credit 15 December 31, 2023 16 17 18 2. On November 12 of the current year, the company borrowed funds from the bank. Details of the note 19 follow: 20 21 22 23 24 25 26 Date 27 December 31, 2023 28 29 Note dated Principal and interest to be paid Principal November 12, 2023 March 11, 2024 Interest rate $90,000 7% Number of months' interest to accrue 1 General Journal Debit Credit 31 32 33 34 35 Date 36 December 31, 2023 37 38 30 3. The company debits the supplies account at the time of purchase. Information related to supplies follows: Supplies on hand - December 31, 2022 $4,000 Supplies purchased during 2023 $7,200 Supplies on hand - December 31, 2023 $2,400 General Journal Debit Credit 39 4. Vacation pay for the year that had been earned by employees was not paid or recorded. The company 40 records vacation pay as salaries expense. Amount earned but not paid or recorded 41 42 43 44 Date December 31, 2023 45 46 47 General Journal $14,000 Credit Debit