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Cheyenne Corp, has the following information available for accruals for the year ended December 31, 2020. The company adjusts its accounts annually The December utility
Cheyenne Corp, has the following information available for accruals for the year ended December 31, 2020. The company adjusts its accounts annually The December utility bill for $470 was unrecorded on December 31 Cheyenne paid the bill on January 11 Cheyenne is open 7 days a week and employees are paid a total of $3 850 every Monday for a 7-day (Monday-Sunday) workweek December 31 is a Thursday, so employees will have worked 4 days (Monday, December 28-Thursday December 319 that they have not been paid for by year end Employees will be paid next on January 4 Cheyenne signed a $45.000,5% bank loan on November 1, 2019. due in 2 years Interestis payable on the first day of each following month Cheyenne recelves a fee from Plaza Shop next door for all pizzas sold to customers using Cheyenne's facility. The amount swed for December is $330, which Pizza Shop will pay on January 4 Hint Use the Service Revenue account) Cheyenne rented some of its unused warehouse space to a client for $6 600 a month payable the first day of the following month. It received the rent for the month of December on January 2 For each situation, prepare the journal entry to record the subsequent cash transaction in 2021. (Creditoccount titles are automatically indented when the amount is entered. Do not indent manually) No. Debit Credit Date Account Titles and Explanation Jan. Abdounts Payable 2021 1. 11, 470 Bash 470 12. Jan 4. 2021 Salaries and Weges Payable 2,200 Salaries and Wages Expense 2200 Wash 3 Jan 1. 2021 interest Payable 9S dah 1995 wan 30 des 2021 300 Accounts Receivable 5 Cash 2 2021 Accounts Receivable 6.000
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