Miscellaneous transactions and adjusting entries. Give the journal entry to record (1) each of the following transactions as well as (2) any necessary adjusting entries on December 31, Year 6, assuming that the firm uses a calendar-year accounting period and closes its books on December 31. You may omit explanations for the journal entries.

a. Sung Corporation gives a 60-day note to a supplier on December 2, Year 6. The note in the face amount of \(\$ 6,000\) replaces an open account payable of the same amount. The note is due on January 30, Year 7, with interest at 10 percent per year.

b. Allstate Insurance Company sells a two-year insurance policy on September 1, Year 6, receiving the two-year premium of \(\$ 18,000\) in advance.

c. Blaydon Company acquires a machine on October 1, Year 6, for \(\$ 40,000\) cash. It expects the machine to have a \(\$ 4,000\) salvage value and a four-year life.

d. Pyke Electronics Company acquires an automobile on July 1, Year 6, for \(\$ 24,000\) cash. It expects the automobile to have a \(\$ 3,000\) salvage value and a three-year life.

e. Devine Company rents needed office space for the three-month period beginning December 1, Year 6. It pays the three months' total rent of \(\$ 12,000\) on this date.

f. Hall Corporation begins business on November 1, Year 6. It acquires office supplies costing \(\$ 7,000\) on account. Of this amount, it pays \(\$ 5,000\) by year-end. A physical inventory indicates that office supplies costing \(\$ 1,500\) are on hand on December 31, Year 6.