QUESTION 13 Alcove Corp. records current transactions in nominal accounts. For each of the following situations, record the necessary adjusting entry for the year ended December 31, 20x2. a. The balance of Prepaid Rent on 1/1/X2 was $4,500. Alcove signed a 12-month lease beginning on June 1st of 20x2 for $12,000, paying the full amount on that date. b. The balance of Interest Payable on 1/1/X2 was $600. During 20x2, Alcove issued a $20,000.7.5% 20 year bond that pays interest on May 1st and November 1st every year. This is the only bond that Alcove has outstanding as of 12/31/X2 C. The balance of Accounts Receivable on 12/31/X2 was $500,000 and the Allowance for Bad Debts had an unadjusted debit balance of $2,000. Alcove estimates uncollectible accounts at 5% of Accounts Receivable. d. The balance of salaries payable on 1/1/X2 was $2,400. During 20x2, Alcove's bi-weekly payroll was $9,000. The last pay date in 20x2 was Friday, 12/21 (Assume a 5 day work week)