1. A three-year fire insurance policy was purchased on July 1, 2018, for $9,360. The company debited insurance expense for the entire amount. 2. Depreciation on equipment totaled $10,250 for the year 3. Employee salaries of $12,500 for the month of December will be paid in early January 2019 On November 1, 2018, the company borrowed $110,000 from a bank. The note requires principal and interest at 12% to be paid on April 30, 2019 5. On December 1, 2018, the company received $3,200 in cash from another company that is renting office space in Falwell's building The payment, representing rent for December and January, was credited to deferred rent revenue Prepare the necessary adjusting entries for each of the above situations. Assume that no financial statements were prepared during the year and no adjusting entries were recorded. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is complete but not entirely correct. No Transaction General Journal Debit Credit Prepaid insurance 9,36 Interest expense 9,360 2 2 Depreciation expense 10,25 Accumulated depreciation 10,250 Salaries expense 12,50 Salaries payable 12,500 4 4 Interest expense 110, Salaries payable 110,000 Deferred rent revenue 3,20 Rent revenue 3,200