Wendy's Catering Company is at its accounting year-end, December 3 1 . 2004. The following data that must be considered were developed from the company's records and related documents:

a. During 2004, office supplies amounting to $1 .200 were purchased for cash and debited in full to Supplies. At the beginning of 2004. the count of supplies on hand was $350 and. at December 31,2004, was $400.

b. On December 3 1 . 2004, the company catered an evening gala for a local celebnn . The $7,500 bill was payable by the end of January 2005. No cash has been collected, and no journal entry has been made for this transaction.

c. On December 15. 2004. repairs on one of the company's delivery vans were completed at a cost of SdOO; the amount is not yet recorded and by agreement will be paid at the beginning of January 2005.

J. ( )n ( )ctober 1 . 2004. a one-year insurance premium on equipment in the amount of S 1 .200 w as paid and debited in full to Prepaid Insurance on that date Coverage began on November 1.

e. In November 2004. Wendy's signed a lease for a new retail location, providing a down payment of $2. 1 00 for the first three months rent. The lease began on December 1. 2004.

/ On July 1 . 2004. the company purchased new refrigerated display counters at a cash cost of

$ 1 8.000. Depreciation of $ 1 .600 has not been recorded for 2004.

g. On November 1 . 2004. the company loaned $4,000 to one of its employees on a one-year. 1 2

percent note payable. The principal plus interest is payable by the employee at the end of 12 months.

h. The income before any of the adjustments or income taxes was $22,400. The company's federal income tax rate is 30 percent. Compute adjusted income based on

(a) through (g) to determine income tax expense.

Required: 1. Indicate whether each transaction relates to a deferred revenue, deferred expense, accrued revenue, or accrued expense. 2. Give the adjusting entry required for each transaction at December 3 1 , 2004.