ractice Gradebook ORION Downloadable eTextbook gnment CALCULATOR PRINTER VERSION . BACK NEXT Exercise 3-16 a-b (Part Level Submission) Blue Spruce Corp, has the following information available for accruals for the year ended December 31, 2020. The company adjusts its accounts annually. 1. The December utility bill for $495 was unrecorded on December 31. Blue Spruce paid the bill on January 11. 7 days a week and employees are paid a total of $4.060 every Monday for a 7-day (Monday-Sunday) workweek. December 31 is a Thursday, so employees will have worked January 4. 4 days (Monday, December 28-Thursday, December 31) that they have not been paid for by year-end. Employees will be paid next on 3, Blue Spruce signed a $52,200, 5% bank loan on November 1, 2019, due in 2 years. Interest is payable on the first day of each folowing month. 4. Blue Spruce receives a fee from Pizza Shop next door for all pizzas sold to customers using Blue Spruce's facility. The amount owed for December is $ Shop will pay on January 4. (Hint: Use the Service Revenue account.) 5. Blue Spruce rented some of its unused warehouse space to a client for $6,960 a month, payable the first day of the following month. It received the rent for the month of December on January 2 Your answer is correct. For each situation, prepare the adjusting entry required at December 31. (Credit account titles are automa indent manually. Round answers to O decimal places, e.g. 5,275.) tically indented when the amount is entered. Do not No. Date Account Titles and Explanation Debit Credit Search or type URL CALCULATOR PRINTER VERSION BACH For each stuation, prepare the journal entry to record the subsequent cash transaction in 2021. (Credit account titles are automatically indented when the is entered. Do not indent manually.) No. Date Account Titles and Explanation 1. Jan. 11, 2021 Utilities Expense Debit Credit 495 495 Accounts Payable 2. Jan. 4, 2021 3. Jan. 1, 2021 4. Jan. 4, 2021 5. Jan. 2, 2021 G Search or type URL