The following transactions occurred during December 31, 2018, for the Microchip Company On October 1, 2018, Microchip lent $85,000 to another company A note was signed with principal and 6 interest to be paid on September 30, 2019 On November 1, 2018, the company paid its landlord $7,800 representing rent for the months of November through January Prepaid rent was debited On August 1, 2018, collected $13,800 in advance rent from another company that is renting a portion of Microchips factory The $13,800 represents one years rent and the entire amount was credited to rent revenue Depreciation on office equipment is $5,100 for the year Vacation pay for the year that had been earned by employees but not paid to them or recorded is $8,600 The company records vacation pay as salaries expense Microchip began the year with $2,600 in its asset account, supplies During the year, $7,100 in supplies were purchased and debited to supplies At year end, supplies costing $3,550 remain on hand Prepare the necessary adjusting entries for each of the above situations Assume that no financial statements were prepared during the year and no adjusting entries were recorded (If no entry is required for a transaction event, select No journal entry required in the first account field )

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The following transactions occurred during December 31, 2018, for the Microchip Company. On October 1, 2018, Microchip lent $85,000 to another company. A note was

The following transactions occurred during December 31, 2018, for the Microchip Company.

On October 1, 2018, Microchip lent $85,000 to another company. A note was signed with principal and 6% interest to be paid on September 30, 2019.
On November 1, 2018, the company paid its landlord $7,800 representing rent for the months of November through January. Prepaid rent was debited.
On August 1, 2018, collected $13,800 in advance rent from another company that is renting a portion of Microchips factory. The $13,800 represents one years rent and the entire amount was credited to rent revenue.
Depreciation on office equipment is $5,100 for the year.
Vacation pay for the year that had been earned by employees but not paid to them or recorded is $8,600. The company records vacation pay as salaries expense.
Microchip began the year with $2,600 in its asset account, supplies. During the year, $7,100 in supplies were purchased and debited to supplies. At year-end, supplies costing $3,550 remain on hand.

Prepare the necessary adjusting entries for each of the above situations. Assume that no financial statements were prepared during the year and no adjusting entries were recorded. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)