Metlock, Inc. has the following information available for accruals for the year ended December $31,2022.$ The company adjusts its

accounts annually.

The December utility bill for $$412$ was unrecorded on December $31.$ Metlock paid the bill on January $11.$

Metlock is open $7$ days a week and employees are paid a total of $$3,360$ 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

that they have not been paid for by year$-$end. Employees will be paid next on January $4.$

Metlock signed a $$43,200,5\%$ bank loan on November $1,2021,$ due in $2$ years. Interest is payable on the first day of each

following month. $($For example, interest incurred during November would be paid on December $1.)$

Metlock receives a fee from Pizza Shop next door for all pizzas sold to customers using Metlock's facility. The amount owed

for December is $$288,$ which Pizza Shop will pay on January $4.($Hint: Use the Service Revenue account.$)$

Metlock rented some of its unused warehouse space to a client for $$5,760$ a month, payable the first day of the following

month. It received the rent payment for the month of December on January $2.$

$($a$)$

For each situation, prepare the adjusting entry required at December $31.($Round answers to $0$ decimal places, e$.$g$.5,275.$ Credit

account titles are automatically indented when the amount is entered. Do not indent manually.$)$

No$.$

Date

Account Titles and Explanation

Debit

Credit

Dec. $31,2022$

Dec. $31,2022$

Dec. $31,2022$

Dec. $31,2022$

Dec. $31,2022$