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Blue Spruce & Associates records adjusting entries on an annual basis. The company has the following information available on

accruals that must be recorded for the year ended December $31,2024$:

Blue Spruce has a $$13,200,6\%$ note receivable with a customer. The customer pays the interest on a monthly basis on the

first of the month. Assume the customer pays the correct amount each month.

Blue Spruce pays its employees a total of $$6,300$ every second Friday. Employees work a five$-$day week, Monday to Friday,

and are paid for all statutory holidays. Assume December $31,2024,$ is a Friday. Employees were last paid up to the Friday of

the prior week.

Blue Spruce has a contract with a customer where it provides services prior to billing the customer. On December $31,2024,$

this customer owed Blue Spruce $$3,260.$ Blue Spruce billed the customer on January $7,2025,$ and collected the full amount

on January $18,2025.$

Blue Spruce received the $$520$ December utility bill on January $10,2025.$ The bill was paid on its due date, January $22,2025.$

Blue Spruce has a $$24,000,7\%$ note payable. Interest is paid every six months, on April $30$ and October $31.$ Assume that Blue

Spruce made the correct interest payments on April $30,2024,$ and October $31,2024.$

$($a$)$

Your answer is partially correct.

Prepare the adjusting entries required on December $31,2024.($Credit account titles are automatically indented when amount is

entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Round answers

to the nearest whole dollar, e$.$g$.5,275.$ List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

Blue Spruce & Associates records adjusting entries on an annual basis. The company has the following information available on

accruals that must be recorded for the year ended December $31,2024$:

Blue Spruce has a $$13,200,6\%$ note receivable with a customer. The customer pays the interest on a monthly basis on the

first of the month. Assume the customer pays the correct amount each month.

Blue Spruce pays its employees a total of $$6,300$ every second Friday. Employees work a five$-$day week, Monday to Friday,

and are paid for all statutory holidays. Assume December $31,2024,$ is a Friday. Employees were last paid up to the Friday of

the prior week.

Blue Spruce has a contract with a customer where it provides services prior to billing the customer. On December $31,2024,$

this customer owed Blue Spruce $$3,260.$ Blue Spruce billed the customer on January $7,2025,$ and collected the full amount

on January $18,2025.$

Blue Spruce received the $$520$ December utility bill on January $10,2025.$ The bill was paid on its due date, January $22,2025.$

Blue Spruce has a $$24,000,7\%$ note payable. Interest is paid every six months, on April $30$ and October $31.$ Assume that Blue

Spruce made the correct interest payments on April $30,2024,$ and October $31,2024.$

$($a$)$

Your answer is partially correct.

Prepare the adjusting entries required on December $31,2024.($Credit account titles are automatically indented when amount is

entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Round answers

to the nearest whole dollar, e$.$g$.5,275.$ List all debit entries before credit entries.$)$

Date Account Titles and Explanation

Dec. $31$

Interest Receivable