Crane Snow Removal Ltd$.$ is a residential and commercial snow removal company. Crane signs contracts with customers for snow removal services that start on November $1$ and end on March $30.$ The company starts signing contracts in the month of September for the winter season. Crane has a year end on December $31$ and had the following transactions involving current liabilities during the year:

$$Crane signs contracts with customers and requests $100\%$ of the contract price as a deposit at the time of signing. The company signed contracts for snow removal totaling $$622,500.$ Based on past history, Crane estimates that one third $(1/3)$ of the contract amount is earned by December $31.$

$$Crane has $10$ employees, who are on standby in the event it snows. The employees earn gross wages of $$125,000$ for the year. From this, the company deducted $15\%$ for income taxes, $$6,813$ in CPP premiums, and $$1,975$ in El premiums before distributing the pay cheques to the staff. As an employer, Crane was also required to match the employees' CP premiums and pay $$2,765$ in El premiums. Crane had fallen behind in making payments owing to the government. The last $4$ months of the year were still outstanding $($that is$,4/12).$

$$Crane ordered salt and sand from suppliers for the upcoming season. The suppliers provided credit to Crane and at the end of the year, Crane owed $$5,610$ on total purchases of $$7\mathrm{.}480$

$$Crane also sells service cards whereby a customer is not required to sign up for the season, instead the customer purchases a $5$ or $10$ snow removal service package to be used at the customer's discretion. The service packages cannot be carried over to the next season and expire on March $30.$ During the current winter session, the company sold $$124,500$ in service cards. As of December $31,$ none of the customers had used up the service cards, anticipating heavier snow fall in the January and February months.

$($a$)$

Prepare summary journal entries to record the transactions and any necessary adjusting journal entries.