The information listed below was obtained from the accountingrecords of williams company as of dec. 31, 2013 the end of thecompany's fiscal year'

a) On August 1, 2013, the company borrowed $120,000 from theBank of Wistful Vista. The loan was for 12 months at 9 percentinterest payable at maturity date.

b) Finished goods inventory on January 1, 2013 was $200,000 andon Dec. 31, 2013 it was $260,000. Cost of goods sold was 2,400,000the company uses a perpetual inventory system

c) The company owned some property (land) that was rented to J.McArthur on April 1, 2013 for 12 months for $8,400. On April 1, theentire rental of $8400 was credited to rent collected in advanceand cash was debited.

d) On Sept. 1, 2013 the company loaned $60000 to an outsideparty. The loan was at 10 percent per annum and was due in sixmonths; interest is payable at maturity. Cash was credited for60000 and notes receivable was debited on sept. 1 for the entireammount

e) Accrued salaries and wages are $18000 at Dec 31 2013

f) On January 1 2013 factory supplies on hand equaled $200.During 2013 factory supplies costing $4000 were purchased anddebited to factory supplies inventory. At the end of 2013, aphysical inventory count showed that factory supplies on handequaled $800

Prepare journal entries to adjust the books of Williams Companyat Dec 31 2013