I NEED HELP ASAP PLEASE!!! I ONLY HAVE A COUPLE OF HOURS!!!

Problem $13-4($Static$)$ Varlous llabillties; financlal statement effects $[$LO$13-1,13-2,13-3,13-4]$

The unadjusted trial balance of the Manufacturing Equitable at December $31,2024,$ the end of its fiscal year, included the following

account balances. Manufacturing's $2024$ financial statements were issued on April $1,2025.$

Other information:

a$.$ The bank notes, issued August $1,2024,$ are due on July $31,2025,$ and pay interest at a rate of $10\%,$ payable at maturity.

b$.$ The mortgage note is due on March $1,2025.$ Interest at $9\%$ has been paid up to December $31($assume $9\%$ is a realistic rate

Manufacturing intended at December $31,2024,$ to refinance the note on its due date with a new $10-$year mortgage note. In fac

on March $1,$ Manufacturing paid $$250,000$ in cash on the principal balance and refinanced the remaining $$950,000.$

c$.$ Included in the accounts receivable balance at December $31,2024,$ were two subsidiary accounts that had been overpaid an

had credit balances totaling $$18,000.$ The accounts were of two major customers who were expected to order mor

merchandise from Manufacturing and apply the overpayments to those future purchases.

d$.$ On November $1,2024,$ Manufacturing rented a portion of its factory to a tenant for $$30,000$ per year, payable in advance. Th

payment for the $12$ months ended October $31,2025,$ was received as required and was credited to deferred revenue.

Requlred:

Prepare any necessary adjusting journal entries at December $31,2024,$ pertaining to each item of other information $($a$-$d$).$

Prepare the current and long$-$term liability sections of the December $31,2024,$ balance sheet.

Answer is complete but not entirely correct.

Complete this question by entering your answers in the tabs below.

Prepare any necessary adjusting journal entries at December $31,2024,$ pertaining to each item of other information $($a$-$d$).$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

$***$The answer is NOT $25,000$ or $30,000$Problem $13-4($Static$)$ Varlous llabillties; financlal statement effects $[$LO$13-1,13-2,13-3,13-4]$

The unadjusted trial balance of the Manufacturing Equitable at December $31,2024,$ the end of its fiscal year, included the following

account balances. Manufacturing's $2024$ financial statements were issued on April $1,2025.$

Other information:

a$.$ The bank notes, issued August $1,2024,$ are due on July $31,2025,$ and pay interest at a rate of $10\%,$ payable at maturity.

b$.$ The mortgage note is due on March $1,2025.$ Interest at $9\%$ has been paid up to December $31($assume $9\%$ is a realistic rate

Manufacturing intended at December $31,2024,$ to refinance the note on its due date with a new $10-$year mortgage note. In fac

on March $1,$ Manufacturing paid $$250,000$ in cash on the principal balance and refinanced the remaining $$950,000.$

c$.$ Included in the accounts receivable balance at December $31,2024,$ were two subsidiary accounts that had been overpaid an

had credit balances totaling $$18,000.$ The accounts were of two major customers who were expected to order mor

merchandise from Manufacturing and apply the overpayments to those future purchases.

d$.$ On November $1,2024,$ Manufacturing rented a portion of its factory to a tenant for $$30,000$ per year, payable in advance. Th

payment for the $12$ months ended October $31,2025,$ was received as required and was credited to deferred revenue.

Requlred:

Prepare any necessary adjusting journal entries at December $31,2024,$ pertaining to each item of other information $($a$-$d$).$

Prepare the current and long$-$term liability sections of the December $31,2024,$ balance sheet.

Answer is complete but not entirely correct.

Complete this question by entering your answers in the tabs below.

Prepare any necessary adjusting journal entries at December $31,2024,$ pertaining to each item of other information $($a$-$d$).$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.