Knockoff Corporation sells a videogame unit known as the Gii. During the month of December, the following events occur. Prepare any necessary journal entries and adjusting entries that Knockoff should record.

a$.$ Knockoff purchased $$300,000$ of inventory on account.

b$.$ The company incurs salary expense of $$45,000,$ although employees will not be paid until the beginning of January. The company also owes an additional $$7,000$ to the government for payroll taxes.

c$.$ Knockoff determines that it owes the IRS $$120,000$ in income taxes for this year.

d$.$ A retail customer places an advance order for Giis and pays Knockoff $$23,000.$ The Giis will be shipped in January.

e$.$ Knockoff owes a local bank $$4,000$ in interest on a loan.

f$.$ Knockoff rents a warehouse of $$3,000$ per week. No payments were made for the last three weeks of the year.