Monty 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 $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 (MondaySunday) workweek. December 31 is a Thursday, so employees will have worked 4 days (Monday, December 28Thursday, December 31) that they have not been paid for by year-end. Employees will be paid next on January 4.

3. Monty signed a $42,300, 5% bank loan on November 1, 2016, due in 1 years. Interest is payable on the first day of each following month.

4. Monty receives a fee from Pizza Shop next door for all pizzas sold to customers using Montys facility. The amount owed for December is $280, which Pizza Shop will pay on January 4. (Hint: Use the Service Revenue account.)

5. 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 January 2.