October $31$ is the fiscal $($financial$)$ year$-$end for the Spring Hill Ski Complex.

From the information below, prepare the adjusting entries with suitable explanations $($including any necessary calculations$).$

$($a$)$ Amortization on the lodge and restaurant for the current year ending

October $31$ is $$23,600.$

$($b$)$ Salaries owing to employees but not yet paid at year$-$end are $$2,750.$

$($c$)$ Snow$-$grooming equipment was leased on October $15$ at a rate of $$45$

per day. Spring Hill began using the equipment immediately. No lease

payments have yet been made.

$($d$)$ The Spring Hill Restaurant was leased to a local catering company on

September $1$ at a yearly rate of $$7,200.$ One year$$s rent was received in

advance on the day the lease contract was signed and was credited to

the Unearned Rent Revenue account.

$($e$)$ A bank loan was negotiated on October $1$ for $$24,000$ at an annual

interest rate of $5\%.$ No interest expense has yet been recorded. $($Interest

$3$ Principal $3$ Rate $3$ Months $412)$

$($f $)$ Amortization on the shuttle bus for the current year ending October

$31$ is $$4,200.$

$($g$)$ A lease agreement was signed today $($October $31)$ for the use of a

second shuttle bus during the winter months, beginning November

$1.$ The lease rate will be $$350$ per month plus $27$ cents per kilometre.