The following transactions occurred for the Microchip Company:
1. On October 1, 2021, Microchip lent $80,000 to another company. A note was signed with principal and 6% interest to be paid on September 30, 2022.
2. On November 1, 2021, the company paid its landlord $6,300 representing rent for the months of November through January. Prepaid rent was debited.
3. On August 1, 2021, Microchip collected $12,300 in advance rent from another company that is renting a portion of Microchip's factory. The $12,300 represents one year's rent, and the entire amount was credited to deferred rent revenue.
4. Depreciation on office equipment is $4,600 for the year.
5. Vacation pay for the year had been earned by employees but not paid to them or recorded.
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