Exercise 2-9 (Algo) Adjusting entries LO2-6 The following transactions occurred for the Microchip Company On October 1 2024Microchip lent $ 90,000 to another companyA note was signed with principal and 6% interest to be paid on September 30, 2025 On November 1, 2024the company its landlord $ 9,300 representing rent for the months of November through January Prepaid rent was debited at the time of payment On August 1, 2024 , collected $15,300 in advance rent from another company that is renting a portion of Microchip's factoryThe $ 15.300 represents one year's rent and the entire amount was credited to deferred rent revenue at the time cash was received 4. Depreciation on office equipment is $ 5,600 for the year