Exercise 3-47 Identification and Analysis of Adjusting Entries Medina Motor Service is preparing adjusting entries for the year ended December 31, 2018. The following items describe Medina's continuous transactions during 2018: Indicate whether or not each item requires an adjusting entry at December 31, 2018. If an item requires an adjusting entry, indicate which accounts are increased by the adjustment and which are decreased a. Medina's salaried employees are paid on the last day of every month. The input in the box below will not be automatically graded, but may be reviewed and considered by your instructor b. Medina's hourly employees are paid every other Friday for the preceding two weeks' work. The next payday falls on January 5, 2019 The input in the box below will not be automatically graded, but may be reviewed and considered by your instructor. c. In November 2018, Medina borrowed $600,000 from Bank One, giving a 9% note payable with interest due in January 2019. The note was properly recorded The input in the box below will not be automatically graded, but may be reviewed and considered by your instructor