The following transactions occurred during December 31,2024 , for the Microchip Company. 1. On October 1,2024 , Microchip lent $92,500 to another company. A note was signed with principal and 8% Interest to be pald on September 30,2025 . 2. On November 1,2024 , the company pald Its landlord $3,600 representing rent for the months of November through January. Prepald rent was debited at the time of payment. 3. On August 1,2024 , collected $7,200 in advance rent from another company that is renting a portion of Microchip's factory. The $7,200 represents one year's rent and the entire amount was credited to deferred rent revenue at the time cash was recelved. 4. Depreciation on office equipment is $2,700 for the year. 5. Vacation pay for the year that had been earned by employees but not pald to them or recorded is $6,200. The company records vacation pay as salarles expense. 6. Microchip began the year with $1,400 in its asset account, supplies. During the year, $5,300 in supplies were purchased and debited to supplies. At year-end, supplies costing $2,650 remain on hand. Required: 1. \& 2. If Microchip's accountant employed reversing entrles for accruals, prepare the adjusting entrles at the end of 2024 for only those entries that would be reversed. 3. Prepare the approprlate reversing entrles at the beginning of 2025 . Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. If Microchip's accountant employed reversing entries for accruals, prepare the adjusting entries at the end of 2024 for only those entries that would be reversed. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet (4) 5 On October 1, 2024, Microchip lent $92,500 to another company. Principal and 8% interest are to be paid on September 30,2025. Note: Enter debits before credits. Prepare the appropriate reversing entries at the beginning of 2025 . Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 3456 On October 1, 2024, Microchip lent $92,500 to another company. Principal and 8% interest are to be paid on September 30,2025. Note: Enter debits before credits