Cullumber Company has the following information available for accruals for the year ended December $31,2022.$ The company adjustsFor each situation, record the adjustment required at December $31$ using the tabular summary that follows. $($Round all calculations

to the nearest dollar. If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign $($or parentheses$)$

in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.$)$

its accounts annually.

The December utility bill for $$340$ was unrecorded on December $31.$ Cullumber paid the bill on January $11.$

Cullumber is open $7$ days a week and employees are paid a total of $$2,800$ 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

that they have not been paid for by year$-$end. Employees will be paid next on January $4.$

Cullumber signed a $$36,000,5\%$ bank loan on November $1,2021,$ due in $2$ years. Interest is payable on the first day of each

following month $($For example, interest incurred during November is paid on December $1.).$

Cullumber receives a fee from Pizza Shop next door for all pizzas sold to customers using Cullumber's facility. The amount

owed for December is $$240,$ which Pizza Shop will pay on January $4.($Hint: Use the Service Revenue account.$)$

Cullumber rented some of its unused warehouse space to a client for $$4,800$ a month, payable the first day of the following

month. It received the rent for the month of December on January $2.$