Prepare transaction and acting entries. 24.10 2. 3) The following independent events for Repertory Theatre Led during the year ended December 31, 2021. require a transaction mal entry or as adjusting forumal entry, or beth. The company adjustite account anually 1. Supplies on hand amounted to $1.500 at the beginning of the year. On March , additional supplies were purchased for 34.290 cash. At the end of the year, wplywical enunt showed that vupplies on hand amounted to $1,000 2. The theatre own a vehicle that was purchased on January 2, 2001, for $120,000. The vehicles estimated seal life in four years. 3. The theatre ha nine plays each an, which starts in September 2011 and ends in May 2013 (one play per month). Season ticket sell for $360. On August 2000 asteet wereld the upcoming 2001-2002 on the theatre credited Deferred Revenue for the full amount received on August and resident event account to record entramed tromion 4. On June the that borrowed $30,000 tram La Calme Populaire Dejardine at an interest rate of ow, to be repaid in one war. The internet le parole on the first day of each following month, and was last paid on December 5 The total blweekly payroll is 59.000, paid every other Friday for employee salaries earned during the prior 19-day workweek (Saturday to Thursday). This year, December 3 falla on Friday, Saluries were paid and recorded) on Friday, December 24, and will be paid it on Friday, January 6. Repertory Theatre rents a portion of its facilities for $600 a month to a local senion' choir that uses the space for rehearsal. The choir's waxin during December, and on January, the theatre received a $1.200 cheque for both the amount owing for the mouth of December and the rest for the month of January 7. Upon reviewing its books on December 31, the theatre noted that a telephone bill for the month of December had not yet been received. A call to Bell Aliant determined that the telephone bill was for $1.125. The bill was paid on January 11. (Hint: Use the Utilities Expense account for telephone services) Instructions a. Prepare the journal entries to record the original transactions for items 1, 2, 3, and 4 b. Prepare year-end adjusting entries required for items through 7 on December 31 c. Record the subsequent cash transactions in January for (1) the interest paid on January 1 (item 4). () payment of the payroll on January 7 (item 5.3) receipt of the rest on January (item 6). andment of the telephone bill on January 11 item 7