Question 3 of 12 - 12 111 View Policies Current Attempt in Progress Crane Company has the following information available for accruals for the year ended December 31, 2020. The company adjusts its accounts annually. 1. 2. 3. The December utility bill for $430 was unrecorded on December 31. Crane paid the bill on January 11. Crane is open 7 days a week and employees are paid a total of $4.900 every Monday for a 7-day (Monday-Sunday) workweek. December 31 is a Thursday, so employees will have worked 4 days (Monday, December 28-Thursday, December 31) that they have not been paid for by year-end. Employees will be paid next on January 4. Crane signed a $47.100,4% bank loan on November 1, 2020, due in 2 years. No interest payments were made in 2020. Interest for 2020 was paid on January 1, 2021. Crane receives a fee from Pizza Shop next door for all pizzas sold to customers using Crane's facility. The amount owed for December is $340, which Pizza Shop will pay on January 4. (Hint: Use the Service Revenue account.) Crane rented some of its unused warehouse space to a client for $6.400 a month payable the first day of the following month. It received the rent for the month of December on January 2. 4. 5. For each situation, prepare the adjusting entry required at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit Dec. 31