The following independent events for Wildhorse Theatre Ltd. during the year ended December 31, 2024, require a journal entry or an adjusting journal entry, or both. The company adjusts its accounts annually. 1. Supplies on hand amounted to $2,330 at the beginning of the year. On March 1, additional supplies were purchased for $6,590 cash. At the end of the year, a physical count showed that supplies on hand amounted to $1,550. 2. 3. 4. 5. 6. 7. The theatre owns a vehicle that was purchased on January 2, 2024, for $186,000. The vehicle's estimated useful life is four years. The theatre puts on nine plays each season, which starts in September and ends in May (one play per month). Season tickets sell for $405. On August 2, 600 season tickets were sold for the upcoming 2024-2025 season. The theatre credited Deferred Revenue for the full amount received on August 2 and uses a Ticket Revenue account to record revenue earned from season tickets. On June 1, the theatre borrowed $52,000 from La Caisse Populaire Desjardins at an interest rate of 6%, to be repaid in one year. The interest is payable on the first day of each following month, and was last paid on December 1. The total biweekly payroll is $13,950, paid every other Friday for employee salaries earned during the prior 12-day workweek (Tuesday to Sunday). This year, December 31 falls on a Tuesday. Salaries were last paid (and recorded) on Friday, December 27, and will be paid next on Friday, January 10. Wildhorse Theatre rents a portion of its facilities for $930 a month to a local seniors' choir that uses the space for rehearsals. The choir's treasurer was ill during December, and on January 7, the theatre received a $1,860 cheque for both the amount owing for the month of December and the rent for the month of January. Upon reviewing its books on December 31, the theatre noted that a telephone bill for the month of December had not yet been received. A call to Bell Aliant determined that the telephone bill was for $1,740. The bill was paid on January 11. (Hint: Use the Utilities Expense account for telephone services.) Prepare the journal entries to record the initial transactions for items 1, 2, 3, and 4. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) No. Date 1. Jan. 2, 2024 Mar. 1, 2024 Jun. 1, 2024 Aug. 2, 2024 2. 3. 4. Account Titles and Explanation Debit Cre