1 10 pot whook Prve References Mc Required information M4-5 and M4-6 (Algo) (The following information applies to the questions displayed below) The following are transactions for the Sky Blue Corporation: a. Collected $5,400 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1 b. Paid $3,600 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount c. Used a machine purchased on October 1 for $60,000. The company estimates annual depreciation of $6.000 5 (Algo) Determine Accounting Equation Effects of Deferral Adjustments [LO 4-2) ired: sach of the above transactions for the Sky Blue Corporation, give the accounting equation effects of the adjustments required at nd of the month on October 31. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign) Liabiles action Assets 5.400 Deferred overe (1,300) Depreciation Exper Ansurance Expense Prepaid Insurance (50) Accumulated Depreciation (500)= 1 of 10 a b C Prev Next > Stockholders Equity 1,000 (500) 800