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Consider the following situations for Shocker. 1. On November 28, 2024, Shocker receives a $3,450 payment from a customer for services to be rendered evenly
Consider the following situations for Shocker. 1. On November 28, 2024, Shocker receives a $3,450 payment from a customer for services to be rendered evenly over the next three months. Deferred Revenue was credited on November 28 2 On December 1,2024 , the company paid a local radio station $2,490 for 30 radio ads that were to be aired, 10 per month: throughout December, January, and February. Prepaid Advertising was debited on December 1 3. Employee salarles for the month of December totaling $7,300 will be paid on January 7, 2025 . 4. On August 31, 2024, Shocker borrowed $63,000 from a local bank. A note was signed with principal and 8% interest to be paid on August 31,2025. Required: Record the necessary adjusting entries for Shocker at December 31, 2024. No adjusting entries were made during the year. (If no entry is required for a particular transaction/event, select "No Journol Entry Required" in the first account field. Do not round intermediate calculations.)
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