Parker Corp. is preparing financial statements for December 31, 2021. No adjusting entries have been recorded during the year. Record the adjusting entries. Omit explanations but show calculations below the entry in the journal, if required.

a) The supplies balance as of 12/31/2020 was $3,100. In July, the company purchased supplies for $6,450. The ending balance of supplies at the end of the year totaled $2,965.

b) On September 1, 2021, Parker Corp. received an advance payment of $205,000 for services to be performed. The total amount received was credited to Deferred Revenue. At December 31, it was estimated 46% of the services had been performed.

c) Parker Corp. calculated salaries of $13,424 were due as of December 31st but will not be paid until January 5th.

d) On May 1, 2021, Parker Corp. borrowed $48,000 from the bank on a 24-month loan. The annual interest rate is 7%.

e) On October 1, 2021, Parker Corp. paid $59,500 for the annual rent on a warehouse and debited Prepaid Rent.