The following transactions occurred during December 31, 2021, for the Microchip Company. On October 1, 2021, Microchip lent $115,000 to another company. A note was signed with principal and 8% interest to be paid on September 30, 2022. On November 1, 2021, the company paid its landlord $5,400 representing rent for the months of November through January. Prepaid rent was debited. On August 1, 2021, collected $10,800 in advance rent from another company that is renting a portion of Microchip’s factory. The $10,800 represents one year’s rent and the entire amount was credited to deferred rent revenue. Depreciation on office equipment is $4,050 for the year. Vacation pay for the year that had been earned by employees but not paid to them or recorded is $7,550. The company records vacation pay as salaries expense. Microchip began the year with $1,850 in its asset account, supplies. During the year, $6,200 in supplies were purchased and debited to supplies. At year-end, supplies costing $3,100 remain on hand. Required: 1. & 2. If Microchip’s accountant employed reversing entries for accruals, prepare the adjusting entries at the end of 2021 for only those entries that would be reversed. 3. Prepare the appropriate reversing entries at the beginning of 2022.