Exercise 2: Greenock company has the following information available for accruals for the year ended December 31, 2020. The company adjusts its accounts annually. a. The December utility bill for $425 was unrecorded on December 31, Greenock paid the bill on January 11. b. Greenock is open 7 days a week and employees are paid a total of $3,500 every (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. c. Greenock signed a $48,000, 5% bank loan on November 1, 2020, due in 2 years. No interest payments were made in 2020. d. Greenock receives a fee from pizza shop next door for all pizzas sold to customers using Greenock's facility. The amount owed for December is $300, which pizza shop will pay on January 4. e. Greenock rented some of its unused warehouse space to a client for $6,000 a month. Payable the first day of the following month. It received the rent for the month of December on January 2. Required: prepare the adjusting entry required at December 31