The December utility bill for $$340$ was unrecorded on December $31.$ Cullumber paid the bill on January $11.$

Cullumber signed a $$36,000,5\%$ bank loan on November $1,2021,$ 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 $1.)$

Cullumber rented some of its unused warehouse space to a client for $$4,800$ a month, payable the first day of the following month. It received the rent payment for the month of December on January $2.$

$($a$)$

For each situation, prepare the adjusting entry required at December $31.($Round answers to $0$ decimal places, e$.$g$.5,275.$ Credit account titles are automatically indented when the amount is entered. Do not indent manually.$)$

$($b$)$

No$.$

Jan. $11,2023$

Account Titles and Explanation

Debit

Credit

Jan. $11,2023$

Jan. $4,2023$

Jan. $1,2023$

Jan. $4,2023$

Jan. $2,2023$