repare the journal entries to record the 2024 transactions for items 1 through 6. (Credit account titles are automatically indented hen amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. ist all debit entries before credit entries.) The following independent items for Kingbird Theatre during the year ended December 31, 2024, may require a transaction journal entry, an adjusting entry, or both. The company records all prepaid costs as assets and all unearned revenues as liabilities and adjusts accounts annually. 1. Supplies on hand amounted to $815 on December 31,2023 . On June 10,2024 , additional supplies were purchased for $1,845 cash. On December 31, 2024, a physical count showed that supplies on hand amounted to $830. 2. Purchased equipment on August 1,2024 , for $51,840 cash. The equipment was estimated to have a useful life of 12 years. 3. Kingbird Theatre puts on eight plays each season. Season tickets sell for $440 each and 235 sold in July for the upcoming 2024-2025 season, which begins in September 2024 and ends in April 2025 (one play per month). Kingbird Theatre credited Unearned Revenue for the full amount received. 4. Every Wednesday, the total payroll is $4,440 for salaries earned during the previous workweek (Monday-Friday). Salaries were last paid on December 29. Assume December 29 is a Wednesday and December 31 is a Friday. 5. Kingbird Theatre rents the theatre to a local children's choir, which uses the space for rehearsals twice a week at a rate of $935 per month. The choir was short of cash at the beginning of December and sent Kingbird Theatre a cheque for $525 on December 10, and a promise to pay the balance in January. On January 10, 2025, Kingbird Theatre received a cheque for the balance owing from December. At this time, the January rent was also paid. 6. On June 1,2024 , the theatre borrowed $25,200 from its bank at an annual interest rate of 5.0%. The principal and interest are to be repaid on May 31, 2025. 7. Upon reviewing its accounting records on December 31, 2024, the theatre noted that the telephone bill for the month of December had not yet been received. A call to the phone company determined that the December telephone bill was $570. The bill was paid on January 12, 2025