Monty Corp. has the following information available for accruals for the year ended December 31, 2020. The company adjusts its accounts annually. 1. The December utility bill for $400 was unrecorded on December 31. Monty paid the bill on January 11 2. Monty is open 7 days a week and employees are paid a total of $3,290 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 Monty signed a $42,600, 5% bank loan on November 1 2019, due in 2 years. Interest is payable on the first day of each ollowing month Monty receives a fee from Pizza Shop next door for all pizzas sold to customers using Monty's facility. The amount owed for December is $280, which Pizza Shop will pay on January 4. (Hint: Use the Service Revenue account.) Monty rented some of its unused warehouse space to a client for $5,640 a month, payable the first day of the following month. It received the rent for the month of December on 4. 3. 4. 5. January 2 No. Date Account Titles and Explanation Debit Credit 1. Dec. 31, 2020 Utilities Expense 400 Accounts Payable 400 2. Dec. 31, 020 Salaries and Wages Expense 1880 Salaries and Wages Payable 1880 3. Dec. 31, 2020 Interest Expense 355 Interest Payable 355 4. Dec. 31, 2020 Accounts Receivable 280 Service Revenue 280 5 Dec. 31, 2020 Accounts Receivable 5640 Rent Revenue 5640 No. Date Account Titles and Explanation Debit Credit 1. Jan. 11, 2021 2. Jan. 4, 2021 3. Jan. 1, 2021 4. Jan. 4, 2021 5. Jan. 2, 2021