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Metlock, Inc, has the following information available for accruals for the vear ended December 31, 20XX. The company adjusts its accounts annually. 1. The December utility bill for $470 was unrecorded on December 31 . Metlock paid the bill on January 11. 2. Metlock is open 7 days a week and employees are paid a total of $3,850 every Monday for a 7-day (Monday-Sunday) workweek. December 31 is a Thursday, so employees will have worked 4 days (Monday, December 28 to Thursday, December 31) that they have not been paid for by year-end. Employees will be paid next on January 4. 3. Metlock signed a $50,400,7% bank loan on November 1,20x1, due in 3 years, Interest is payable on the first day of each following month. 4. Metlock receives a fee from Pizza Shop next door for all pizzas sold to customer's using Metlock's facility. The amount owed for December is \$250, which Pizza Shop will pay on January 4. (Hint: Use the Service Revenue account). 5. Metlock rented some of its unused warehouse space to a client for $6,450 a month, payable the first day of the following month. It received the rent for the month of December on January 2. For each situation, prepare the adjusting entry required at December 31. (Round answers required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titl. amount is entered. Do not indent manuallv.)

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