Demello & Associates records adjusting entries on an annual basis. The company has the following information available on accruals that must be recorded for the year ended December 31, 2021:

1.		Demello has a $12,000, 10% note receivable with a customer. The customer pays the interest on a monthly basis on the first of the month. Assume the customer pays the correct amount each month.
2.		Demello pays its employees a total of $6,400 every second Wednesday. Employees work a five-day week, Monday to Friday, and are paid for all statutory holidays. December 31, 2021, is a Friday. Employees were paid on Wednesday, December 29, 2021, up to the Friday of the prior week.
3.		Demello has a contract with a customer where it provides services prior to billing the customer. On December 31, 2021, this customer owed Demello $3,460. Demello billed the customer on January 7, 2022, and collected the full amount on January 18, 2022.
4.		Demello received the $510 December utility bill on January 10, 2022. The bill was paid on its due date, January 22, 2022.
5.		Demello has a $24,000, 8% note payable. Interest is paid every six months, on October 31 and April 30. Assume that Demello made the correct interest payment on October 31, 2020, and April 30, 2021.

Prepare the adjusting journal entries required on December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to the nearest whole dollar, e.g. 5,275.)

No.	Date	Account Titles and Explanation	Debit	Credit
1.	Dec. 31
2.	Dec. 31
3.	Dec. 31
4.	Dec. 31
5.	Dec. 31

Prepare the journal entries to record the related cash transactions in 2022. Assume all payments and receipts are made as indicated. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to the nearest whole dollar, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 1
Jan. 10
Jan. 18
Jan. 22
Apr. 30

List of Accounts

• Accounts Payable
• Accounts Receivable
• Accumulated Amortization - Computer Equipment
• Accumulated Depreciation - Building
• Accumulated Depreciation - Equipment
• Accumulated Depreciation - Furniture
• Accumulated Depreciation - Vehicles
• Admission Expense
• Admission Revenue
• Advertising Expense
• Building
• Cash
• Commission Revenue
• Computer Equipment
• Depreciation Expense
• Equipment
• Fuel Expense
• Furniture
• Insurance Expense
• Interest Expense
• Interest Payable
• Interest Receivable
• Interest Revenue
• Land
• Mortgage Payable
• No Entry
• Notes Payable
• Notes Receivable
• Office Expense
• Prepaid Advertising
• Prepaid Expenses
• Prepaid Insurance
• Prepaid Rent
• Property Tax Expense
• Property Tax Payable
• Rent Expense
• Rent Payable
• Rent Revenue
• Repairs Expense
• Salaries Expense
• Salaries Payable
• Service Revenue
• Supplies
• Supplies Expense
• Telephone Expense
• Unearned Revenue
• Utilities Expense
• Vehicles