Preparing Adjusting Journal Entries

The following transactions and events for Stellar Corp. are being reviewed for possible adjusting entries at December $31($the end of its accounting period$).$

Adjusting Journal Entries Part One

Adjusting Journal Entries Part Two

On September $1,$ the company loaned $$168,000$ cash to another company. The loan was at $10\%$ per year and was due in six months; interest is payable at maturity. Cash was credited for $$168,000,$ and Note

Receivable was debited on September $1$ for $$168,000.$

On January $1,$ Shipping Supplies amounted to $$560.$ During the year, shipping supplies that cost $$11,200$ were purchased and debited to Shipping Supplies. At the end of the year, a physical inventory count

revealed that shipping supplies still available were $$2,240.$

At the end of the year, property taxes for the year of $$165,200$ were assessed on property owned by the company. The taxes are due no later than February $1$ next year. The taxes have not been recorded the

books because payment has not yet been made.

The company borrowed $$336,000$ cash from the bank on December $1.$ A $60-$day note payable was signed at $9\%$ interest payable on maturity date. On December $1,$ Cash was debited and Note Payable credited

for $$336,000.$

On July $1,$ the company paid the city a $$2,800$ license fee for the next $12$ months. On that date, Cash was credited and License Expense debited for $$2,800.$

The company owns three SUVs used by its executives. A six$-$month maintenance contract on them was signed on October $1,$ whereby a local garage agreed to do "all the required maintenance." Payment was

made for the following six months in advance; specifically, on October $1,$ Cash was credited and Repair Expense was debited for $$26,880.$

Prepare the adjusting entry $($or entries$)$ that are necessary, if any, on Decer $31,$ for each item $7$ through $12.$

Note: If a journal entry isn't required for the transaction, select $"$N$/$A$"$ as the account names and leave the Dr$.$ and Cr$.$ answers blank $($zero$).$