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Current Attempt in Progress Sunland Company has the following information available for accruals for the year ended December 31, 2020. The company adjusts its accounts

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Current Attempt in Progress Sunland Company has the following information available for accruals for the year ended December 31, 2020. The company adjusts its accounts annually. 1 2. 3. The December utility bill for $405 was unrecorded on December 31. Sunland paid the bill on January 11, Sunland is open 7 days a week and employees are paid a total of $4.970 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 31) that they have not been paid for by year-end. Employees will be paid next on January 4. Sunland signed a $46,800,6% bank loan on November 1, 2020, due in 2 years. No interest payments were made in 2020. Interest for 2020 was paid on January 1, 2021. Sunland receives a fee from Pizza Shop next door for all pizzas sold to customers using Sunland's facility. The amount owed for December is $350, which Pizza Shop will pay on January 4. (Hint: Use the Service Revenue account.) Sunland rented some of its unused warehouse space to a client for $6,500 a month payable the first day of the following month. It received the rent for the month of December on January 2. 4. 5. For each situation, prepare the dusting entry required at December 31. (Credit accountries are outomatically indented when the amount is entered. Do not indent manually Round answers to decimal places. 5.275) Date Account Titles and Explanation Debit Credit Dec 31 (To record payable account Dec 31 (To record accrued salaries and wan) Dec 31 Torecord interestused) Dec 31 To record service account Dec. 31 (Torecord rent account) For each situation, prepare the journal entry to record the subsequent cash transaction in 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles Debit Credit Jan 11 Jan 4 (To record accrued salaries and wages Jan 1 Jan 4. (To record accrued receivable) Jan 2

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