Vintage Sales Company, a large retail outlet, completed the following selected transactions during 1998 and 1999:
a. At the end of 1998, accrued wages that have not yet been recorded amounted to $40,000. These accrued wages were paid in the January 15, 1999, payroll, which amounted to $190,000 (disregard payroll taxes).
b. On November 1, 1998, rent revenue for the following six months was collected, $9,600.
c. On October 1, 1998, Vintage received $400 as a deposit from a customer for some special containers that are to be returned on or about March 31, 1999. Vintage agreed to "give the customer credit at an annual rate of 6 percent interest on the deposit." The containers were returned on April 1, 1999.
Required:
Give all of the required entries (omit closing and reversing entries) during 1998 and 1999 for each of the above transactions. The accounting period of Vintage ends on December 31.