Exercise 4-18 Novak Corp. has the following information available for accruals for the year ended December 31, 2017. The company adjusts its accounts annually 1. The December utility bill for $520 was unrecorded on December 31. Novak paid the bill on January 11. 2. Novak is open 7 days a week and employees are paid a total of $4,270 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. Novak signed a $54,900, 5% bank loan on November 1, 2016, due in 2 years. Interest is payable on the first day of each following month anuary 4. (Hint: Use the Service Revenue account.) on January 2 4. Novak receives a fee from Pizza Shop next door for all pizzas sold to customers using Novak's facility. The amount owed for December is $370, which Pizza Shop will pay on 5. Novak rented some of its unused warehouse space to a client for $7,320 a month, payable the first day of the following month. It received the rent for the month of December