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Splish Brother Limited has the following information available for accruals for the year ended December 31,2025 . The company adjusts its accounts annually. 1. The
Splish Brother Limited has the following information available for accruals for the year ended December 31,2025 . The company adjusts its accounts annually. 1. The December utility bill for $510 was unrecorded on December 31 , Solish Brother paid the bill on Jaruary 11. 2. Splish Brother is open 7 days a week and employees are paid a total of $4,200 every Monday for a 7 -day (Monday-5unday) 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. 3. Splish Brother signed a $54,000,5% bank loan on November 1, 2024, due in 2 years. Interest is payable on the first day of each following month (For example, interest incurred during November would be paid on December 1. .) 4. Splish Brother receives a fee from Pizza Shop next door foc all pizzas sold to customers using Splish Brother's facility. The amount owed for December is $360, which Pizza $ Shop will pay on January 4. (Hint the the Service Revenue account.) 5. Splish Brother rented some of its unused warehouse space to a client for $7,200 a month, payable the first day of the following month. It received the rent for the month of December on January 2. Question 5 of 8 For each situation, prepare the adjusting entry recuired at December 31. (List all debit entries before credit entries, Round answers to 0 decimal ploces, eg. 5,275. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts, Credit account tities are autamatically indented when the amount is entered, Do not indent manuallys
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