The following transactions occurred for the Microchip Company.

On October $1,2024,$ Microchip lent $$86,000$ to another company. A note was signed with principal and $7\%$ interest to be paid on September $30,2025.$

On November $1,2024,$ the company paid its landlord $$8,100$ representing rent for the months of November through January. Prepaid rent was debited at the time of payment.

On August $1,2024,$ collected $$14,100$ in advance rent from another company that is renting a portion of Microchip's factory. The $$14,100$ represents one year's rent and the entire amount was credited to deferred rent revenue at the time cash was received.

Depreciation on office equipment is $$5,200$ for the year.

Vacation pay for the year that had been earned by employees but not paid to them or recorded is $$8,700.$ The company records vacation pay as salaries expense.

Microchip began the year with $$2,700$ in its asset account, supplies. During the year, $$7,200$ in supplies were purchased and debited to supplies. At year$-$end, supplies costing $$3,600$ remain on hand.

Prepare the necessary adjusting entries at December $31,2024$ for each of the above situations. Assume that no financial

Required: statements were prepared during the year and no adjusting entries were recorded.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.