The following transactions occurred for the Microchip Company 1. On October 1, 2021, Microchip lent $88,000 to another company. A note was signed with principal and 9% interest to be paid on September 30, 2022 2. On November 1, 2021, the company paid its landlord $8,700 representing rent for the months of November through January Prepaid rent was debited. 3. On August 1, 2021, collected $14,700 in advance rent from another company that is renting a portion of Microchip's factory. The $14,700 represents one year's rent and the entire amount was credited to deferred rent revenue. 4. Depreciation on office equipment is $5,400 for the year. 5. Vacation pay for the year that had been earned by employees but not paid to them or recorded is $8,900. The company records vacation pay as salaries expense. 6. Microchip began the year with $2,900 in its asset account, supplles. During the year, 87.400 in supplies were purchased and debited to supplies. At year-end, supplies costing $3,700 remain on hand. Prepare the necessary adjusting entries at December 31, 2021 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.) On October 1, 2021, Microchip lent $88,000 to another company. A note was signed with principal and 9% interest to be paid on September 30, 2022. Note: Enter debits before credits. Transaction General Journal Debit Credit On November 1, 2021, the company paid its landlord $8,700 representing rent for the months of November through January. Prepaid rent was debited. Note: Enter debits before credits Transaction 2 General Journal Debit Credit On August 1, 2021, collected $14,700 in advance rent for one year. Deferred rent revenue was credited for the entire amount. Note: Enter debits before credits. General Journal Debit Credit Transaction 3 Depreciation on office equipment is $5,400 for the year. Note: Enter debits before credits. General Journal Transaction 4 Debit Credit Vacation pay for the year that had been earned by employees but not paid to them or recorded is $8,900. The company records vacation pay as salaries expense. Note: Enter debits before credits. Transaction General Journal Debit Credit 5 Microchip began the year with $2,900 in its asset account, supplies. During the year, $7,400 in supplies were purchased and debited to supplies. At year-end, supplies costing $3,700 remain on hand. Note: Enter debits before credits. Transaction General Journal Debit Credit 6