On December 31, Brown Company estimates the utility expense for December to be $780. The bill will not be received and paid until January. Required: Journalize the adjusting entry on December 31.

Retirement investment advisors, inc., has just offered you an annual interest rate of 4.4 percent until you retire in 40 years. you believe that interest rates will increase over the next year and you would be offered 5 percent per year one year from today. if you plan to deposit $13,000 into the account either this year or next year, how much more will you have when you retire if you wait one year to make your deposit?