Required information

Penny's Pool Service & Supply, Incorporated $($PPSS$)$ is completing the accounting process for the first year of operations

ended on December $31.$ Transactions during the year have been journalized and posted. The following trial balance

reflects the unadjusted balances on December $31$:

a$.$ PPSS owed $$8,800$ in wages to the office receptionist and three assistants for working the last $10$ days in December.

The employees will be paid in early next year.

b$.$ On October $1$ of the current fiscal year, PPSS received $$27,900$ from customers who prepaid pool cleaning service

for one year beginning on November $1$ of the current year.

c$.$ The company received a $$650$ utility bill for December utility usage. It will be paid early next year.

d$.$ PPSS borrowed $$80,700$ from a local bank on August $1,$ signing a one$-$year, $10$ percent note. The note and interest

are due on August $1$ of next year.

e$.$ On December $31,$ PPSS cleaned and winterized a customer's pool for $$930,$ but the service was not yet recorded on

December $31.$

f$.$ On November $1$ of the current fiscal year, PPSS purchased a two$-$year insurance policy for $$3,600,$ with coverage

beginning on that date. The amount was recorded as Prepaid Expenses when paid.

g$.$ On December $31,$ PPSS had $$4,000$ of pool cleaning supplies on hand after purchasing supplies costing $$26,700$

during the year from Pool Corporation, Incorporated.

h$.$ PPSS estimated that depreciation on its buildings and equipment was $$9,600$ for the year.

i$.$ At December $31,$$$240$ of interest on investments was earned that will be received in the next year.

j$.$ The company's income tax rate for the year was $22$ percent.

Required:

Prepare adjusting entries for Penny's Pool Service & Supply, Incorporated, on December $31,$ of the current year.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Round your answer

to nearest dollar.