Current Attempt in Progress

Whispering Winds Corp. has the following information available for accruals for the year ended December $31,2022.$ The company

adjusts its accounts annually.

The December utility bill for $$421$ was unrecorded on December $31.$ Whispering Winds paid the bill on January $11.$

Whispering Winds is open $7$ days a week and employees are paid a total of $$3,430$ every Monday for a $7-$day $($Monday$-$

Sunday$)$ workweek. December $31$ is a Thursday, so employees will have worked $4$ days $($Monday$,$ December $28-$Thursday,

December $31)$ that they have not been paid for by year$-$end. Employees will be paid next on January $4.$

Whispering Winds signed a $$44,100,8\%$ bank loan on November $1,2021,$ due in $2$ years. Interest is payable on the first day of

each following month. $($For example, interest incurred during November would be paid on December $1.)$

Whispering Winds receives a fee from Pizza Shop next door for all pizzas sold to customers using Whispering Winds's facility.

The amount owed for December is $$294,$ which Pizza Shop will pay on January $4.($Hint: Use the Service Revenue account.$)$

Whispering Winds rented some of its unused warehouse space to a client for $$5,880$ a month, payable the first day of the

following month. It received the rent payment for the month of December on January $2.$