Cricket
Lawn
Service
provides
general
lawn
maintenance
to
customers.
The
company's
fiscal
year-end
is
December
31.
Information
necessary
to
prepare
the
year-end
adjusting
entries
appears
below.
1.
On
October
1,
2024,
Cricket
lent
$155,000
to
another
company.
A
note
was
signed
with
principal
and
8%
interest
to
be
paid
on
September
30,
2025.
2.
On
November
1,
2024,
the
company
paid
its
landlord
$36,000
representing
rent
for
the
months
of
November
through
January.
Prepaid
Rent
was
debited
for
the
entire
amount.
3.
On
August
1,
2024,
Cricket
collected
$40,500
in
advance
rent
from
another
company
that
is
renting
a
portion
of
Cricket's
building.
The
$40,500
represents
one
year's
rent,
and
the
entire
amount
was
credited
to
Deferred
Revenue.
4.
Depreciation
for
the
year
is
$27,500.
5.
Vacation
pay
for
the
year
that
had
been
earned
by
employees
but
not
paid
to
them
or
recorded
is
$17,500.
The
company
records
vacation
pay
as
Salaries
Expense.
6.
Cricket
began
the
year
with
$36,000
in
its
Supplies
account. During
the
year
$71,500
in
supplies
were
purchased
and
debited
to
the
Supplies
account.
At
year-end,supplies
costing
$31,500
remain
on
hand.
Required:
Prepare
the
necessary
adjusting
entries
on
December
31,
2024.
(Do
not
round
intermediate
calculations.
If
no
entry
is
required
for
a
particular
transaction/event,
select
"No
Journal
Entry
Required"
in
the
first
account
field.)
