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Please complete all journal entries The following transactions occurred for the Microchip Company. 1. On October 1,2024 , Microchip lent $84,000 to another company. A

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Please complete all journal entries

The following transactions occurred for the Microchip Company. 1. On October 1,2024 , Microchip lent $84,000 to another company. A note was signed with principal and 10% interest to be paid on September 30, 2025. 2. On November 1,2024 , the company paid its landlord $7,500 representing rent for the months of November through January. Prepaid rent was debited at the time of payment. 3. On August 1, 2024, collected $13,500 in advance rent from another company that is renting a portion of Microchip's factory. The $13,500 represents one year's rent and the entire amount was credited to deferred rent revenue at the time cash was received. 4. Depreciation on office equipment is $5,000 for the year. 5. Vacation pay for the year that had been earned by employees but not paid to them or recorded is $8,500. The company records vacation pay as salaries expense. 6. Microchip began the year with $2,500 in its asset account, supplies. During the year, $7,000 in supplies were purchased and debited to supplies. At year-end, supplies costing $3,500 remain on hand. Required: Prepare the necessary adjusting entries at December 31,2024 for each of the above situations. Assume that no financial statements were prepared during the year and no adjusting entries were recorded

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