Masa Company provides computer network consulting services. The company initially debits assets in recording prepaid expenses and credits liabilities in recording unearned revenues. Give the appropriate entry that Masa would use to record each of the following transactions on the date it occurred. Prepare the adjusting entries needed on December 31, 2022. (Round all numbers to the nearest dollar.)

1. On March 15, 2022, Masa received \(\$ 54,000\) for a contract to provide consulting services for 18 months beginning immediately.

2. On April 1, 2022, the company paid \(\$ 285\) for a two-year subscription to a computer networking journal. The subscription starts April 1, 2022, and expires March 31, 2024.

3. On May 1, 2022, Masa paid \(\$ 7,500\) in property taxes for the year May 1, 2022, to April 30, 2023.

4. Masa rented part of its office building to Thinkers Advertising Inc. Thinkers paid \(\$ 3,350\) on August 1, 2022, for the next six months' rent.

5. On September 1, 2022, the company paid a two-year premium of \(\$ 30,000\) on an insurance policy that is effective September 1, 2022, and expires August 31, 2024.

6. Masa loaned \(\$ 175,000\) to a client. On October 1,2022 , the client paid \(\$ 13,300\) for interest in advance (October 1, 2022, to September 30, 2023).